Coinbase Wrapped Staked ETH

CBETH

Liquid Staking, derivative weights

A liquid staking token for Ethereum.

STRICT score withheld.Score opens with Pro

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Weights are public.

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About Coinbase Wrapped Staked ETH

Analysis of 14 Feb 2026

Coinbase Wrapped Staked ETH (cbETH) is a liquid staking token representing ETH staked through Coinbase, enabling users to earn staking rewards while maintaining liquidity and DeFi composability. Following a major fee restructure in late 2025, Coinbase reduced its commission to 10% (down from 35%), improving competitive positioning though yields have declined industry-wide.

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As of February 14, 2026, 1 cbETH = 1.12 ETH (stable conversion rate), with market capitalization of approximately $285 million. The token trades at $2,228-$2,337 with Ethereum at $2,050-$2,095.

Current ETH staking APY sits at 2.3-3.1% after Coinbase's 10% commission, reflecting lower network rewards as Ethereum staking participation reached a historic 30.5% milestone. Coinbase maintains 11% of all staked ETH while Lido has grown to 24.2% market share.

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