Coinbase Wrapped Staked ETHcbETH Price

Coinbase is supporting liquid staking for its ETH stakers with Coinbase Wrapped Staked ETH (ETH), where the staked asset is Ether (ETH), and the staking provider and token issuer is Coinbase. Coinbase hope is that cbETH will achieve robust adoption for trade, transfer, and use in DeFi applications. With cbETH, Coinbase aims to contribute to the broader crypto ecosystem through creating high-utility wrapped tokens and open sourcing smart contracts.

Use cases of cbETH:

• Existing staked ETH. Wrap you staked ETH to cbETH and sell it for cash

• Collateral in DeFi. Deposit cbETH as a collateral in DeFi protocols and borrow funds while preserving your staked ETH position.

• Transferring staked ETH. Send cbETH from Coinbase account to non-custodial wallets.