ETH
Explore wrapped Ethereum tokens enabling seamless cross-chain liquidity and decentralized finance applications.
7 days at the top this week: $WETH is dominating the category
$stETH climbed 17 places this week
Down 8 places this week, $ELA is losing steam
$WETH hit a gem score of 83 this week
20 tokens rose and 31 fell this week
Weakest this month: $ETH bottomed out at a 8 gem score
Frequently asked questions
How has ETH performed recently?
The ETH wrapped token category shows consistent positive breadth over both 7-day and 30-day windows, with 41 tokens up and 9 down in the past week, and 40 up and 10 down over the last month. Ronin Wrapped Ether (WETH) stands out as a strong performer, leading the streak for both 7 and 30 days and also registering the highest score extreme. Notable climbers over the 30-day period include ETH and "ETH人生," which saw significant rank increases. Conversely, Liquid staked Ether 2.0 (stETH) and Coinbase Wrapped Staked ETH (cbETH) were among the fallers in both timeframes, indicating some downward pressure on these assets within the category. A new entrant into the top K over the last 30 days was Wrapped Ether (WETH) on Optimism, while Wrapped Ether (WETH.e) on Avalanche exited the top K.
What is a wrapped ETH token?
A wrapped ETH token is a cryptographic asset pegged 1:1 to Ethereum, enabling its use on alternative blockchain networks and protocols.
Why do investors use wrapped ETH?
Investors use wrapped ETH to participate in decentralized finance applications, yield farming, and trading on non-Ethereum blockchains without selling their underlying ETH.
How is the value of wrapped ETH maintained?
The value is maintained through a backing mechanism where native ETH is locked in a smart contract or held by a custodian to mint an equivalent amount of wrapped tokens.