Bubble
WETH WETH
WETH (WETH) was trading at $1,863.53, ranked #31 by market cap at $4.29B, with 24h volume of $47.89M.
Data snapshot: 2026-08-03 09:00 UTC.
WETH is the ERC-20-compatible version of ETH. Native ETH predates the ERC-20 token standard, so it can't interact directly with most DEXs and smart contracts that expect a standard token interface — wrapping ETH 1:1 into WETH solves that. It's one of the oldest and most foundational wrapped assets in Ethereum DeFi, underlying a huge share of on-chain trading pairs. WETH exists to fix an inconsistency in Ethereum's design: ETH itself predates the ERC-20 token standard and does not implement it, so contracts written for tokens cannot handle raw ETH. WETH wraps it one-for-one into a standard token. It is not an investment, a project or a team — it is plumbing, and it is one of the most-used contracts on Ethereum. On a bubble map it should never be read as demand for a separate asset: its supply reflects how much ETH is currently sitting inside DeFi contracts.
Why does WETH exist?
ETH predates the ERC-20 standard and does not implement it, so token contracts cannot handle it directly. WETH wraps ETH one-for-one into a compliant token.
Is WETH pegged to ETH?
It is fully redeemable one-for-one at any time by the contract, so it does not float against ETH the way a bridged or synthetic asset might.
Does buying WETH mean anything different from buying ETH?
No. It is the same asset in a different wrapper. Its supply is a measure of how much ETH is currently deployed in contracts.
Should WETH be counted as separate market cap?
No. Every WETH is backed by an ETH that is already counted, so adding them would double-count.
Market cap decides how big a bubble is drawn, so rank is what places WETH on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #21 | Wrapped Beacon ETH (WBETH) | $6.91B |
| #25 | Coinbase Wrapped BTC (CBBTC) | $6.12B |
| #31 | WETH (WETH) | $4.29B |
| #37 | Wrapped eETH (WEETH) | $3.45B |
| #108 | Ether.fi (ETHFI) | $383.03M |