WETH /WETH

What is Wrapped Ether (WETH)?  

Wrapped Ether (WETH) is the token that represents Ether (ETH) on the Ethereum Blockchain in a form that can based on decentralized exchanges and smart contracts.

ETH is the native cryptocurrency of Ethereum, but it is not an ERC-20 token. WETH is the ERC-20 token introduced in 2017 by the Ox team, later it went live on the Ethereum network in January 2018. The value of WETH is pegged to the 1:1 ratio of Ethereum the underlying asset, even on different blockchains. This allows the WETH to work and exchange information seamlessly on other blockchains and can be used on dApps, Dexs, and lending platforms.

How Does Wrapped Ethereum Work?

Custodians hold the collateral required to wrap tokens. For example, Ethereum, a custodian or merchant, multi-signature wallets, or smart contracts will hold Ether and give Wrapped Ethereum in return. Ether is sent to the custodian and a wrapped version of the coin is minted. Dex’s will support swapping your Ether crypto to Wrapped Ethereum, the value remains the same, similar to dollar-pegged stablecoins.

On the Ethereum blockchain, Wrapped Ethereum is swapped on decentralized applications, and some decentralized apps won't accept Ether as collateral, only with WETH. Ether is used to pay gas fees, while WETH is an ERC-20 token that can be exchanged for other ERC-20 tokens on DeFi. 

Wrapped Ether (WETH) Coin History:

• The WETH (WETH) token reached an all-time high of $4,799.89 on Nov 9, 2021, and an all-time low of $82.10 on Dec 15, 2018.

• As of 2024, the Total supply of WETH is 3.4M WETH.

• To convert WETH to ETH, refer to Coinpedia’s crypto converter https://markets.coinpedia.org/weth/.

Where To Buy Wrapped Ether (WETH):

Wrapped Ether is only supported on Decentralized exchanges including Uniswap, Curve, and Balancer.

Wrapped Ether (WETH) Supported Wallets:

WETH is supported on popular wallets that include Trust Wallet, MetaMask, Ledger, ImToken, Torus, and tokenpocket.