Coinbase says it’s adding a relative crypto newcomer to its lineup of tradable crypto assets.
The top US-based exchange says the Ethereum-based staking altcoin Liquid Staked ETH (LSETH) will soon be live and open for deposits, withdrawals and trading.
[adinserter block="1"]Liquid Staked ETH is the token that investors receive when they stake their Ethereum (ETH) on Liquid Collective, a liquid staking protocol.
Liquid Collective is designed to let users stake their ETH and obtain LSETH, which can in turn be utilized in DeFi (decentralized finance) applications.
Although LSETH is not designed to be pegged to the price of Ethereum, it has maintained relative parity to the leading smart contract platform’s native crypto asset.
LSETH is priced at $1,598 at time of publishing, compared to ETH’s price of $1,562 – down 0.3% in the last 24 hours.
Coinbase says it’s giving the crypto asset its experimental label, which is assigned to altcoins that may have higher volatility and lower trading volume compared to more established and mainstream digital assets.
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