Crypto Exchange Coinbase Adds To Its Roadmap To List A New Altcoin!

USA’s most popular cryptocurrency exchange Coinbase is a new altcoin announced that it has added it to its roadmap to list it.

According to the official announcement, Coinbase Liquid Staked ETH (LSETH) added the coin to its roadmap.

What is the Liquid Staked ETH (LSETH) Altcoin Added to the Roadmap for Listing on Coinbase?

The Liquid Staked ETH (LSETH) index token contains an equally weighted basket of major liquid staked Ether derivatives (LSD). Staked ETH tokens provide ETH staking rewards with the advantage of liquidity. The indexing approach aims to reduce volatility and mitigate protocol-induced risk compared to holding individual tokens.

LSD altcoins are normally indexed to the Ethereum price, and LSETH aims to reduce volatility by offering a basket of these LSD coins.

The LSETH token includes the following cryptocurrencies:

Wrapped Lido Liquid Staked Ether (wstETH): 20%

Staked Frax Ether (srfxETH): 20%

Coinbase Wrapped Staked Ether (cbETH): 20%

Rocket Pool Ether (rETH): 20%

Ankr Staked Ether (ankrETH): 20%

Until now, LSETH could be traded on the decentralized exchange UniSwap.

As it is known, Ethereum tokens that are currently staked remain locked and cannot be recovered. Liquid staked ETH derivatives fix this issue by giving stakers an ETH derivative that is intended to be equivalent instead of ETH.

Ethereum staking unlocks will begin in March. As this day approaches, interest in LSD altcoins has increased recently.

*Not investment advice.