{"id":"binance-peg-weth","title":"Binance-Peg WETH","content":"**Binance-Peg WETH (WETH)** is a token issued on the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain) that is pegged in value to Wrapped [Ethereum](https://iq.wiki/wiki/ethereum) (WETH) on the [Ethereum](https://iq.wiki/wiki/ethereum) network. It facilitates the use and trading of [Ethereum](https://iq.wiki/wiki/ethereum)-based value within the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain) ecosystem. [\\[1\\]](#cite-id-4xstcwaW2b)\n\n## Overview\n\n[Binance](https://iq.wiki/wiki/binance)-Peg WETH serves as a cross-chain representation of Wrapped [Ethereum](https://iq.wiki/wiki/ethereum) (WETH) on the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain). To enable interoperability and allow users to utilize their WETH holdings within the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain)'s decentralized finance (DeFi) and application ecosystem, [Binance](https://iq.wiki/wiki/binance) issues pegged tokens. These pegged tokens are created through a process where an equivalent amount of the native asset (WETH on [Ethereum](https://iq.wiki/wiki/ethereum)) is locked in a designated address, and the corresponding pegged token ([Binance](https://iq.wiki/wiki/binance)-Peg WETH) is minted on the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain).\n\nThe existence of Binance-Peg WETH expands the liquidity and utility of WETH by making it accessible to users and protocols operating on the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain), which often features lower transaction fees and faster [block](https://iq.wiki/wiki/block) times compared to the [Ethereum](https://iq.wiki/wiki/ethereum) [mainnet](https://iq.wiki/wiki/mainnet). It is part of a broader category of \"Binance-Peg Tokens\" designed to bridge various cryptocurrencies to the [BNB Chain](https://iq.wiki/wiki/binance-smart-chain) ecosystem. [\\[1\\]](#cite-id-4xstcwaW2b)\n\n## Tokenomics\n\n* **Market Cap:** Approximately $1,509,910,258\n* **Fully Diluted Valuation (FDV):** Approximately $1,509,910,258\n* **24 Hour Trading Volume:** Approximately $45,773,056\n* **Circulating Supply:** Approximately 604,999 WETH  [\\[1\\]](#cite-id-4xstcwaW2b)\n* **Total Supply:** Approximately 604,999 WETH [\\[2\\]](#cite-id-0LYJMHyUyE)\n* **Max Supply:** ∞ (Infinite) [\\[1\\]](#cite-id-4xstcwaW2b)\n\nThe price of Binance-Peg WETH is calculated by aggregating data across multiple exchanges and markets using a global volume-weighted average formula. [\\[3\\]](#cite-id-ZBGzznLpSB)\n\n## Use Cases\n\n* **Trading:** Users can trade Binance-Peg WETH against other tokens on decentralized exchanges (DEXs) operating on [BNB Chain](https://iq.wiki/wiki/binance-smart-chain). [\\[1\\]](#cite-id-4xstcwaW2b)\n* **DeFi Participation:** Binance-Peg WETH can be used in various DeFi protocols on [BNB Chain](https://iq.wiki/wiki/binance-smart-chain), such as lending platforms, yield farming protocols, and liquidity pools. [\\[1\\]](#cite-id-4xstcwaW2b)\n* **Transfer:** Users can transfer WETH value quickly and with potentially lower fees compared to transactions on the [Ethereum](https://iq.wiki/wiki/ethereum) [mainnet](https://iq.wiki/wiki/mainnet) by using its pegged representation on [BNB Chain](https://iq.wiki/wiki/binance-smart-chain). [\\[1\\]](#cite-id-4xstcwaW2b)","summary":"Binance-Peg WETH is a token pegged to the value of Ethereum (WETH). It allows trading of Ethereum-based assets on the Binance Chain ecosystem, which is not possible due to different blockchains.","images":[{"id":"Qma56m4dgjoFStviGVFmi4bR8Jwr7fQLx8vn9B23LfvqBG","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"cryptocurrencies"}],"tags":[{"id":"BinanceSmartChain"},{"id":"Ethereum"}],"media":[],"metadata":[{"id":"references","value":"[{\"id\":\"4xstcwaW2b\",\"url\":\"https://www.coingecko.com/en/coins/binance-peg-weth\",\"description\":\"CoinGecko Binance-Peg WETH page\",\"timestamp\":1749280774952},{\"id\":\"0LYJMHyUyE\",\"url\":\"https://www.coingecko.com/en/coins/binance-peg-wETH\",\"description\":\"CoinGecko Binance-Peg WETH page\",\"timestamp\":1749280774952},{\"id\":\"ZBGzznLpSB\",\"url\":\"https://www.coingecko.com/en/methodology\",\"description\":\"CoinGecko methodology page\",\"timestamp\":1749280774952}]"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/binance-peg-weth"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmbkvopAfL5ZNWDReboAjsUxcFHmgY2Hpu5mLKk9AXQr87\""},{"id":"commit-message","value":"\"Add Binance-Peg WETH launch event (2024-08); remove 'Blockchains' ID.\""},{"id":"previous_cid","value":"QmbkvopAfL5ZNWDReboAjsUxcFHmgY2Hpu5mLKk9AXQr87"}],"events":[{"id":"0c9c70b9-ac5e-4016-aea2-6026903469dc","date":"2024-08","title":"Launch Date","type":"CREATED","description":"Binance-Peg WETH launch","link":"","multiDateStart":null,"multiDateEnd":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum"],"founders":["anon"],"speakers":[]}}