Assets on Blockchain Networks: Understanding Tokens, NFTs, and Supported Cryptocurrencies

Blockchain technology has revolutionized how we define and transfer value. At the heart of this transformation are digital assets—representations of value that exist on decentralized networks. These assets can range from widely used cryptocurrencies like ETH and USDC to unique non-fungible tokens (NFTs). For developers and users interacting with blockchain platforms, understanding which assets are supported—and how they're identified—is essential for seamless transactions and integrations.

This guide explores the core types of blockchain assets, focusing on fungible tokens such as ERC-20s and native coins, along with their support across major networks via the CDP APIs. We’ll also dive into asset identification methods, balance fetching, and the denominations used in Ethereum-based transfers.

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Types of Digital Assets on Blockchain

Digital assets fall into two primary categories: fungible and non-fungible.

• Fungible tokens, such as ETH or DAI, are interchangeable. Each unit holds identical value and can be freely exchanged.
• Non-fungible tokens (NFTs) represent unique items—like digital art or collectibles—where each token is distinct and not directly exchangeable on a one-to-one basis.

Most blockchain operations involving value transfer center around fungible tokens, particularly those compliant with standards like ERC-20 on Ethereum-compatible networks. These tokens power everything from decentralized finance (DeFi) protocols to cross-chain bridges and stablecoin ecosystems.

Assets Supported by Symbol

The CDP APIs provide native support for certain high-demand assets using their symbol identifiers, simplifying integration for developers. This feature is currently available on Base Mainnet and Base Sepolia, two key Ethereum Layer 2 networks.

Below is a list of supported assets:

Native and ERC-20 Tokens

• ETH (Ether)
  The native cryptocurrency of Ethereum Virtual Machine (EVM)-based networks, including Base. It's used to pay gas fees and interact with smart contracts. Fully supported on both Base Mainnet and Base Sepolia.
• USDC (USD Coin)
  A dollar-pegged stablecoin backed 1:1 by U.S. dollars. USDC enables predictable value transfers and is widely adopted in DeFi applications.
• WETH (Wrapped ETH)
  An ERC-20 version of ETH, allowing it to be used in decentralized exchanges and smart contracts that require tokenized formats.

Additional ERC-20 tokens supported on Base Mainnet only include:

• DAI – A decentralized stablecoin.
• RETH – Rocket Pool’s liquid staking derivative of ETH.
• BRETT – Community token associated with the Brett character on Base.
• W – Wormhole’s cross-chain communication token.
• CBETH – Coinbase’s wrapped staked ETH.
• AXL – Axelar network token for cross-chain interoperability.
• IOTX – IoTeX network token.
• PRIME, AERO, RSR, MOG, TBTC, NPC, and YFI – Representing various DeFi, gaming, and utility projects.

These symbol-based references streamline development by eliminating the need to manually input contract addresses for common tokens.

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Assets Supported by Contract Address

Beyond symbol-supported tokens, the CDP APIs support all ERC-20 tokens through their contract addresses. This ensures flexibility for developers working with emerging or niche tokens not yet listed by symbol.

For example:

• To transfer USDC on Base-Sepolia, you can use its contract address directly.
• Similarly, trading USDC on Base Mainnet requires specifying the correct contract address in your transaction payload.

This method allows full compatibility with any ERC-20 token, provided the wallet is funded accordingly. You can obtain testnet funds using tools like the Circle Faucet when developing on Sepolia.

Using contract addresses gives developers granular control over asset interactions, especially crucial when integrating new or less common tokens into dApps.

Fetching Asset Balances

Accurately retrieving user balances is critical for any blockchain application. The CDP API supports two approaches based on how an asset is identified:

By Symbol

When using symbol-based identification (e.g., ETH, USDC), the API automatically resolves the underlying contract or native asset, returning the current balance in the specified wallet.

By Contract Address

For tokens without symbol support, balances can be fetched by directly providing the token’s contract address. This method works universally across all ERC-20 tokens, ensuring no asset is left unsupported.

Both methods return balances in the smallest denomination (Wei), requiring conversion for user-friendly display—a process simplified through SDK utilities.

Denominations of ETH: From Wei to Gwei and Beyond

Ether (ETH) uses a base unit of 10⁻¹⁸, meaning one full ETH consists of 1,000,000,000,000,000,000 units known as Wei. This high precision supports microtransactions and accurate gas calculations.

Common ETH denominations include:

• Wei: The smallest unit (1 Wei = 10⁻¹⁸ ETH).
• Gwei: Frequently used in gas pricing (1 Gwei = 1 billion Wei).
• ETH: The standard trading and display unit.

The SDK supports sending transfers in Wei, Gwei, or ETH, giving developers flexibility in how they handle amounts programmatically.

Developer Tools: SDK Integration

The Coinbase SDK provides built-in constants for easy access to commonly used assets:

Coinbase.assets.Eth   // For ETH
Coinbase.assets.Usdc  // For USDC
Coinbase.assets.Weth  // For WETH

These predefined asset IDs reduce errors and speed up development time. Full documentation, including available methods for asset management, can be found in the Asset class SDK docs.

Frequently Asked Questions

Q: What's the difference between fungible and non-fungible tokens?
A: Fungible tokens (like ETH or USDC) are interchangeable—each unit is identical. Non-fungible tokens (NFTs) are unique and represent ownership of specific digital or physical items.

Q: Can I use any ERC-20 token with the CDP API?
A: Yes. While only select tokens are supported by symbol, all ERC-20 tokens can be used via their contract addresses.

Q: Why does ETH have so many decimal places?
A: The 18-decimal precision allows for extremely small transactions and precise gas fee calculations, supporting scalability and micro-economies within the network.

Q: How do I get test tokens for Base Sepolia?
A: Use the Circle Faucet to receive USDC or other testnet assets for development and testing purposes.

Q: Is USDC supported across multiple blockchains?
A: Yes. USDC is available on Ethereum, Polygon, Arbitrum, Base, and several other chains, enabling seamless cross-chain transactions.

Q: What role does WETH play in DeFi?
A: WETH allows ETH to be used in smart contracts that require ERC-20 token interfaces—essential for trading, lending, and yield farming platforms.

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