What is Based ETH (BSDETH)?
Based ETH is an RToken on the Base L2 whose mandate is to maintain an Ethereum-aligned Liquid Staking Token basket (with a preference for new LST providers) and to provide value to bsdETH holders through yield and diversification. About Reserve Protocol: Reserve is a free, permissionless platform to build, deploy and govern asset-backed currencies referred to as “RTokens.” RTokens are always 1:1 asset-backed, allowing for permissionless minting and redeeming onchain by users without the need for any middlemen. Overcollateralization is provided by RSR governance token stakers.
How does Based ETH work?
Each RToken can have an entirely different governance system and is governed separately by ecosystem stakers. The Reserve protocol launched on Ethereum mainnet in October 2022, on Base L2 in October 2023, and completed its seventh audit in November 2023.
Where can you buy Based ETH?
Based ETH (BSDETH) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for BSDETH sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
You can open the Markets section above to see the live list of exchanges quoting BSDETH, sorted by 24-hour volume. Each row links to the venue's trade page so you can go directly from research to execution without copying the ticker around by hand.
What is the daily trading volume of Based ETH (BSDETH)?
The reported 24-hour trading volume of Based ETH is $63.11K. Volume is a live reading of how much BSDETH changed hands across all tracked exchanges in the past day and tends to rise during periods of price discovery and fall during consolidation.
For traders, the ratio between volume and market cap is often more informative than either number on its own: a high vol-to-mcap ratio indicates liquid, actively traded supply, while a low ratio suggests that most holders are sitting on the asset.
What is the highest and lowest price for Based ETH (BSDETH)?
Based ETH reached an all-time high of $5,114.36 on August 24, 2025, and an all-time low of $1,431.56 on April 9, 2025. It is currently trading -51.96% from its peak and +71.62% from its bottom.
The distance from ATH is a useful gauge of recovery potential during a bear market and of stretched positioning during a bull market. Combined with the all-time-low figure it provides a quick statistical frame for thinking about where BSDETH sits in its long-run price range.
What is the market cap of Based ETH (BSDETH)?
Based ETH's market capitalization is currently $2.28M, and it is ranked #9999 by market cap on Cryptopricing. Market cap is calculated as the current price multiplied by the circulating supply (927.88 BSDETH are actively circulating today).
Market cap is a common but imperfect measure. It reflects the theoretical value of every circulating token at the current market price, but it doesn't capture how thin the top of the order book might be - an important caveat for tokens with low floats or illiquid cap tables.
What is the fully diluted valuation of Based ETH (BSDETH)?
The fully diluted valuation (FDV) of Based ETH is $2.28M. FDV is a projection of what the market cap would be if every token that will ever exist - including those that have not yet been unlocked, mined or issued - were in circulation at the current price.
FDV is a useful second reading alongside market cap. A large gap between mcap and FDV signals that future token emissions could dilute current holders, while a small gap indicates that supply is already mostly out.
How does the price performance of Based ETH compare against its peers?
Over the past 24 hours, Based ETH has moved +1.76%. Over the past seven days, the change is -0.39%. Comparing these figures to the global crypto market cap change (shown in the ticker at the top of this page) tells you whether BSDETH is leading, lagging or tracking the broader market.
For deeper analysis, the categories strip on the home page groups coins by theme - Layer 1, Meme, DePIN, AI, RWA and so on - and lets you compare Based ETH against its closest peers. The category detail pages surface the underlying coins and their seven-day sparklines in a single view.
How to store Based ETH?
Like any crypto asset, the right way to store BSDETH depends on how often you plan to use it. Long-term holders typically self-custody using a hardware wallet such as Ledger or Trezor, which keeps private keys offline and immune to most remote attacks.
For active traders, a reputable custodial exchange wallet can be appropriate, especially one with clear proof-of-reserves attestations. Whatever approach you choose, the most important rule is to keep your recovery phrase offline, never share it, and never enter it into a web form or attached to a DM - no legitimate support agent will ever ask for it.
