Users stake ETH through Binance and receive wBETH, a liquid ERC-20 token. The token does not rebase: its exchange rate against ETH rises as staking rewards accrue, so each wBETH is redeemable for more than 1 ETH over time.

Wrapped Beacon ETH (wBETH), also called Binance Staked ETH, is a liquid staking token issued by Binance on Ethereum and BNB Chain.

Binance issues and manages wBETH, the liquid staking token for its ETH staking service. Binance takes a service fee from the staking rewards earned by the staked ETH.

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Liquid staking

Wrapped Beacon ETH

# Circulating supply Methodology

## Overview

Circulating supply measures the number of tokens that are currently available for trading on the open market. It excludes tokens that are locked, unvested, or held in the project’s own treasury.

Number of tokens currently available for trading on the open market.

Wrapped Beacon ETHwBETH

Circulating supply

Circulating supply

Competitive landscape