Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global
Coinbase Rolls Out Wrapped And Staked Ethereum Asset

Coinbase Rolls Out Wrapped And Staked Ethereum Asset

by BitDegree
September 1, 2022
in Global
Reading Time: 2 mins read
3k
A A
0
Share on FacebookShare on Twitter

Crypto exchange continues its preparation for the Ethereum Merge. 

Coinbase, a popular American cryptocurrency exchange platform established in 2012, is launching its new asset, called Coinbase Wrapped Staked ETH (cbETH). 

According to the tweets shared by Coinbase Assets account on August 24th, the new asset will appear on Ethereum Network as an ERC-20 token. 

You might also like

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
7.5k
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
7.5k

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

The token will function as a replacement for the previous version of Coinbase’s staked Ether, known as ETH2. The company notes that ETH2 will remain locked until new updates of Ethereum are fully completed. In this case, cbETH will function as a substitute allowing users “to sell, transfer, spend, or otherwise use their staked-ETH”. 

It is worth remembering that on August 16th, Coinbase announced its plans to temporarily suspend deposits and withdrawals of Ether (ETH) and ERC-20 tokens during September’s Ethereum Merge. 

The company highlighted that users who have ETH2 can wrap their staked Ether and receive the new cbETH token. Furthermore, Coinbase announced that when it has a sufficient amount of this asset, it plans to launch a cbETH-USD trading pair. 

In its tweet thread, Coinbase notes that the asset price is not supposed to replicate the price of Ether (ETH). The cost of Coinbase Wrapped Staked ETH will include the price of staked ETH “plus all of its accrued staking interest, starting from when cbETH’s conversion rate and balance were initialized (June 16th, 2022, 19:34 UTC).”

On Wrapped Staked ETH (cbETH) whitepaper the company states:

Our 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.”

The company completed its Twitter thread by notifying users that the support of cbETH may be restricted in some parts of the world. In other places, the new asset will be available from August 25th, 9 AM Pacific Time.

In other news, the Ethereum Foundation revealed detailed information about the upcoming Ethereum Merge. 

Aaron S. - Expert Reviewer

by Aaron S. – Expert Reviewer, BitDegree


This article was originally published in Bitdegree and can be viewed here:

https://www.bitdegree.org/crypto/news/coinbase-rolls-out-wrapped-and-staked-ethereum-asset

Tags: Bitdegree
Advertisement Advertisement
Previous Post

Minting NFTs: What does that mean?

Next Post

Ethereum Foundation Share Detailed Information About the Merge Update

BitDegree

BitDegree

Related Stories

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

by Klever
February 22, 2023
0
7.5k

We are excited to announce that Klever has recently joined the Web3 Domain Alliance, a group dedicated to promoting the...

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

by Isabela Bellumat
February 14, 2023
0
7.5k

With so many options available, it can be difficult to determine which wallet is the best choice for your digital...

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

by Warren Manuel
February 10, 2023
0
7.3k

Imagine a world where businesses and organizations operate with complete transparency, security, and autonomy. A world where intermediaries and central...

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

by Warren Manuel
February 9, 2023
0
7.3k

Investment and financial management have come a long way in the digital age. With the advent of Artificial Intelligence (AI),...

Next Post
Ethereum Foundation Share Detailed Information About the Merge Update

Ethereum Foundation Share Detailed Information About the Merge Update

Coinme Adds More Cryptocurrencies to Coinstar Kiosks Across US

Coinme Adds More Cryptocurrencies to Coinstar Kiosks Across US

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.6k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8394 shares
    Share 3358 Tweet 2099
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7052 shares
    Share 2821 Tweet 1763
  • Bitcoin battles back from record losses to $21,000

    5916 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5361 shares
    Share 2144 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5075 shares
    Share 2030 Tweet 1269

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version