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TürkçeBinance-Peg WETH Information
Binance-Peg WETH (Wrapped Ethereum) is a token on the Binance Smart Chain that mirrors the value of Ethereum, offering users a bridge to interact with decentralized applications and services within the Binance ecosystem. It allows for increased accessibility and lower transaction costs compared to the Ethereum network. This token facilitates seamless trading and liquidity provision on Binance's decentralized platforms, enhancing the overall user experience for those seeking to leverage Ethereum's utility in a more efficient manner.
Understanding Binance-Peg WETH: An Overview
The cryptocurrency landscape is vast, with various tokens and coins created for specific purposes. Among these is Binance-Peg WETH (Wrapped Ethereum on Binance Smart Chain or BSC), a crypto asset pegged to the value of Ethereum and designed to facilitate the trade of Ethereum on the Binance Smart Chain. This article delves into its roles, advantages, disadvantages, historical performance, and future prospects.
The Technical Backbone of Binance-Peg WETH
Binance-Peg WETH functions by mirroring the value of ETH, Ethereum's native token, one of the leading cryptocurrencies globally. While ETH operates on the Ethereum blockchain, Binance-Peg WETH exists on Binance Smart Chain as an ERC-20 token equivalent. This enables users to leverage Ethereum’s features but through Binance’s ecosystem, known for its lower transaction fees and faster processing times.
Advantages of Binance-Peg WETH
One of the main benefits of Binance-Peg WETH is its cost efficiency. By using the Binance Smart Chain, transactions incur significantly reduced fees compared to the original Ethereum network, known for its high gas fees. Additionally, BSC offers quicker transaction times, enhancing the R&D development and trading efficiency for developers and investors alike.
Moreover, Binance-Peg WETH enhances liquidity and composability within decentralized finance (DeFi) ecosystems. It allows Ethereum holders to participate in Binance's DeFi projects while maintaining their asset’s value equivalence to ETH.
Drawbacks of Binance-Peg WETH
Despite its benefits, Binance-Peg WETH comes with certain risks. Being pegged means relying heavily on the centralized control of Binance, which has raised centralization concerns among crypto purists. The need to trust Binance for maintaining the 1:1 peg ratio adds an additional layer of reliance and possible risk.
Moreover, as with any digital asset, Binance-Peg WETH is subject to market volatility. While it mirrors Ethereum's value, any fluctuations in the market could directly impact its price stability.
Historical Performance
As of the latest data available, Binance-Peg WETH has experienced notable price shifts. It once reached an all-time high (ATH) of $2808.56 on August 24, 2024, later experiencing a drop to its all-time low (ATL) of $2171.8 on September 6, 2024. These fluctuations reflect its high volatility, common in the crypto market.
During the most recent 24 hours from the reported data, Binance-Peg WETH's value decreased by 2.51%, with a price adjustment of $-65.55. Its market capitalization changed by -2.32%, reflecting the overall sentiment and dynamic movements in the crypto space.
Future Prospects and Conclusion
Looking ahead, Binance-Peg WETH's future hinges on several factors, including Ethereum's overall performance, developments in Binance Smart Chain, and the broader crypto market trends. As DeFi and cross-chain functionalities grow, the practical uses and adoption of Binance-Peg WETH could rise, enhancing its value proposition.
However, potential investors should remain cautious regarding the asset’s centralization and inherent risks through market volatility. Continuous innovation and strategic partnerships in BSC and Ethereum ecosystems could further strengthen WETH's standing.
In conclusion, Binance-Peg WETH emerges as a potent asset for those looking to exploit Ethereum’s capabilities within the Binance Smart Chain network. With its advantages and challenges, a balanced approach is advisable for trading and holding this cryptocurrency.
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from price
$3,323
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General Information |
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Title
Binance-Peg WETH
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Symbol
weth
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Whitepaper
-
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Website
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Community
-
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Last Updated
2025-01-21 23:53
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Price Data |
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Current Price $
3323.22
$
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High 24h
3365.52
$
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Low 24h
3189.26
$
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Price Change 24h
53.9
$
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Price Change % 24h
1.6486
%
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Market Data |
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Market Cap
2010549944
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Total Volume
108114908
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Market Cap Change 24h
36822969
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Market Cap Change % 24h
1.86566
%
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
604999.99995984
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Total Supply
604999.99995984
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Max Supply
-
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Historical Data |
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All Time High (ATH)
4098.26
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ATH Change %
-18.9943
%
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ATH Date
2024-12-06 20:27
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All Time Low (ATL)
2171.8
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ATL Change %
52.86055
%
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ATL Date
2024-09-06 21:02
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