Mixed Crypto Trading
Ethereum-Linked Alternative Tokens Post Mixed Results Across Recent Exchange Trading Sessions
Anonymous
Key Points
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Crypto.com Staked ETH was launched on Nov. 8, 2023, and has a total supply of 11,420 tokens; its official website is Crypto.com’s staking page.
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ETHPoW has a total supply of 107,818,999 coins and lists Medium as its official message board, along with the website ethereumpow.org and Twitter account @ethereumpow.
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StakeWise Staked ETH launched on March 31, 2021, and has a total supply of 148,528 tokens; the project identifies stakewise.io and @stakewise_io as its official online channels.
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Ethena Staked USDe had a total supply of 1,041,651,026 tokens and identifies @ethena_labs and www.ethena.fi as its official social-media and web channels.
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The articles note that these alternative tokens generally cannot be purchased directly with U.S. dollars; prospective buyers are typically instructed to first acquire Bitcoin or Ethereum through a dollar-supported exchange and then trade for the relevant token.
Four Ethereum-linked tokens posted mixed results in trading on September 13-14, with prices ranging from tiny gains to modest losses. Crypto.com Staked ETH rose 1.5% to $2,691.56 with a $30.74 million market cap, while StakeWise Staked ETH fell 2.6% to $2,647.49 despite holding a much larger $393.23 million market cap CoinMarketCap. ETHPoW gained 1.9% to $0.26, and Ethena Staked USDe held flat at $1.25 with a $1.30 billion market cap CoinGecko.
These niche cryptocurrency assets serve different purposes in the Ethereum ecosystem. Crypto.com Staked ETH and StakeWise Staked ETH let users earn staking rewards while keeping their tokens liquid for trading. ETHPoW is a legacy fork from Ethereum's 2022 transition to Proof-of-Stake. Ethena Staked USDe functions as a synthetic dollar using crypto collateral and hedging strategies Ethena Labs.
Crypto.com Staked ETH Climbs While Most Peers Decline
Crypto.com Staked ETH (CDCETH) outperformed peers with a 1.5% gain to $2,691.56 in the 24-hour period Crypto.com. The token launched on November 8, 2023, and has a total supply of 11,420 coins. Despite its modest market cap of $30.74 million, daily trading volume reached roughly $3,780, showing limited exchange activity for this custodial staking product.
StakeWise Staked ETH Falls Despite Huge Market Value
StakeWise Staked ETH (osETH) declined 2.6% to $2,647.49, extending its weekly loss to 1.4% CoinMarketCap. The token has a $393.23 million market cap—the largest among these four assets—but only about $43 in daily trading volume. This huge gap between market value and trading activity suggests investors hold the token long-term rather than actively trade it on exchanges. StakeWise launched on March 31, 2021, with a total supply of 148,528 tokens StakeWise.
ETHPoW Gains Ground Despite Longer-Term Weakness
ETHPoW (ETHW) rose 1.9% to approximately $0.26 on the trading day, though it fell 4.7% over the previous week Crypto.com Exchange. The token has a $28.23 million market cap and 107,818,999 total coins in circulation. Daily trading volume reached $1.59 million, making it the most actively traded of these four derivative assets. ETHPoW originated as a Proof-of-Work fork during Ethereum's transition to Proof-of-Stake.
Ethena Staked USDe Holds Steady With Billion-Dollar Cap
Ethena Staked USDe (SUSDE) remained essentially flat at $1.25, up just 0.1% over the week CoinGecko. It boasts the highest market cap at $1.30 billion but trades only about $24,000 daily. The token has 1,041,651,026 total coins in circulation. Ethena Labs created SUSDE as a synthetic dollar that maintains its peg through delta-hedging and crypto collateral, not traditional bank backing Ethena Labs.
Buyers Must Own Bitcoin or Ethereum First
None of these tokens can be purchased directly with U.S. dollars on major exchanges. Prospective buyers must first acquire Bitcoin or Ethereum through a fiat-supported exchange, then trade those crypto assets for CDCETH, osETH, ETHW, or SUSDE Crypto.com. This extra friction limits retail adoption and keeps trading volumes low across all four derivative tokens.
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