→Pricing Breaks: USDe Case During October 2025 Crash
WBETH traded 80-90% below redemption value on Binance during the crash, as the exchange's internal spot pricing fed into its oracle, amplifying liquidation cascades in cross-margin accounts.
24h Change-0.54%
All Time HighAug 24, 2025$5,331
All Time LowApr 9, 2025$1,502
Market Cap$5.819b
Fully Diluted Valuation$5.819b
Circ. Supply3.37m WBETH
CEX Volume$3.44m
DEX Volume$25,122
How much debt can be issued against WBETH as collateral across lending protocols.
Maximum possible exposure to WBETH
$53.62m
$45.33m (max additional borrows against WBETH) + $8.29m (bad debt if WBETH was hacked now)
Venus Core Pool
$48.94m at-risk exposure = $6.38m bad debt if hacked + $42.56m additional borrowable against WBETH
Lista Lending
$3.37m at-risk exposure = $1.86m bad debt if hacked + $1.51m additional borrowable against WBETH
Venus Flux
$1.31m at-risk exposure = $48,670 bad debt if hacked + $1.27m additional borrowable against WBETH
Showing collateral exposure for WBETH on BSC. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for WBETH as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.

Protocol | Chain | |||
|---|---|---|---|---|
wBETH0xa2e3356610840701bdf5611a53974510ae27e2e1 | $42.56m | $6.38m | ||
wBETH0xa2e3356610840701bdf5611a53974510ae27e2e1 | $1.51m | $1.86m | ||
wBETH0xa2e3356610840701bdf5611a53974510ae27e2e1 | $1.27m | $48,670 |
Risk-management actions published about WBETH by tracked risk managers and governance contributors, newest first.
WBETH traded 80-90% below redemption value on Binance during the crash, as the exchange's internal spot pricing fed into its oracle, amplifying liquidation cascades in cross-margin accounts.
wbETH is one of the largest and most productive liquid staked ETH tokens on BNB Chain, serving as a premier collateral type that drives ETH borrow demand. Onboarding it enhances LST diversity and liquidity in the new Aave V3 BNB Chain deployment.
Binance's WBETH is scored for high counterparty risk due to centralized custody and regulatory scrutiny, balanced against its liquidity in ETH staking derivatives for mkUSD backing.
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Tracking 6 pools, average APY 1.29%

Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWBETH | 🪂 | $5.498b | 2.45% | 2.45% | 2.48% | ||||
| open in new tabWBETH | 🪂 | $330.27m | 2.45% | 2.45% | 2.48% | ||||
| open in new tabWBETH | $15.81m | 0% | 0% | 0% | |||||
| open in new tabWBETH | $495,675 | 0% | 0% | ||||||
| open in new tabBETH | $165,949 | 0% | 0% | 0% | |||||
| open in new tabWBETH | $45,670 | 0.27% | 0.27% | 0.27% |
Showing 10 of 66 routes

Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWBETH ➞ SOLVBTC | $151.8m | 0.27% | 0.27% | -0.01% | 70% | $55,589 | $9,943 | ||
| open in new tabWBETH ➞ SOLVBTC | $151.8m | 0% | 0% | -0.01% | 80% | $16.02m | $215,100 | ||
| open in new tabWBETH ➞ DOGE | $5.78m | 0.27% | 0.27% | 0% | 70% | $55,589 | $9,943 | ||
| open in new tabWBETH ➞ DOGE | $5.78m | 0% | 0% | 0% | 80% | $16.02m | $215,100 | ||
| open in new tabWBETH ➞ UNI | $5.69m | 0.19% | 0.27% | -0.12% | 70% | $55,589 | $9,943 | ||
| open in new tabWBETH ➞ UNI | $5.69m | -0.09% | 0% | -0.12% | 80% | $16.02m | $215,100 | ||
| open in new tabWBETH ➞ BTCB | $1.11m | 0.09% | 0.27% | -0.26% | 70% | $55,589 | $9,943 | ||
| open in new tabWBETH ➞ TRX | $772,980 | 0.27% | 0.27% | 0% | 70% | $55,589 | $9,943 | ||
| open in new tabWBETH ➞ TRX | $772,980 | 0% | 0% | 0% | 80% | $16.02m | $215,100 | ||
| open in new tabWBETH ➞ CAKE | $70,842 | -0.03% | 0.27% | -0.43% | 70% | $55,589 | $9,943 |