WETH Plunges Today: Is It Time To Buy?

Today, the price of WETH is $3,497.95. In 24 hours, it lost 0.63% in value ($21.53) and in a week, it lost 3.73% in value. Relative to the minimum WETH value of $65.60, the current growth is 5,284.23%. Relative to the maximum value of WETH of $4,419.02, the current value is 78.45%. The WETH digital cryptocurrency, which was launched by Radar Reley, a decentralized exchange where tokens issued on the ERC20 standard can be bought and sold, is an internal currency and an Ethereum exchange equivalent.

The necessity for WETH arose because, despite being a platform for launching digital coins based on the ERC20 standard, ether does not correspond to it, having appeared considerably earlier. When attempting to use Ethereum for direct trade on decentralized exchanges, this mismatch increases the danger of losing tokens. WETH is an ERC20-compliant ether converter. As a result, the WETH rate is pegged to the ETH rate in a one-to-one ratio.  A new coin appeared in January 2018 and is mainly used on the Radar Relay exchange. In addition to it, WETH also uses a decentralized 0x trading platform, where the trading volume is much smaller.

Lora Nilsson

Finance and Business reporterAfter graduating high school. Lora decided to travel and blog as a part-timer. Today she enjoys what she loves and works remotely as our finance and business reporter