Wrapped Ether (Polygon zkEVM)

WETH

WETH is a DeFi-compatible version of ETH. ETH is the native currency of the Ethereum chain used for gas fees and security.

Risk Rating

Good

$3,366.24

-0.29%

What is Wrapped Ether (Polygon zkEVM)?

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Information

Blockchain

Polygon zkEVM

Info

Website
Community
Reddit
Asset Type: ERC-20

Key Metrics

Market Cap: $9.8B
Fully Diluted Valluation: $9.7B
FDV / MC: 1
Ranking inside Exponential (excluding stables): #8
Circulating Supply: 2,904,888
Total Supply: 2,886,449
Volume (24H): $1.4B
ATH: $4,799.89 (11/09/2021)
ATL: $82.10 (12/15/2018)

Risk Assessment

Good

Asset Strength

Wrapped ETH is a large-cap asset that represents the protocol's native governance or utility token. This asset is exposed to the underlying risks of Polygon zkEVM bridge, a protocol rated as Good.

Dependencies

Polygon zkEVM Bridge

Asset Tokenomics

Wrapped ETH has an uncapped supply but has inflation control or burn mechanisms in place. ETH on Polygon zkEVM is backed 1:1 by ETH locked in the Polygon zkEVM bridge protocol on the Ethereum chain. ETH is "wrapped" to make it compatible with DeFi smart contracts. 1 Wrapped ETH is always equal to 1 ETH.

Things to know about WETH