Lido wstETH Hits Self Reported Market Capitalization of $11.62 Billion (WSTETH)

Lido wstETH (WSTETH) traded down 3.2% against the US dollar during the 1 day period ending at 0:00 AM Eastern on October 21st. Lido wstETH has a market capitalization of $11.62 billion and approximately $18.24 million worth of Lido wstETH was traded on exchanges in the last day. During the last seven days, Lido wstETH has traded up 1.2% against the US dollar. One Lido wstETH token can currently be bought for approximately $3,127.99 or 0.04647723 BTC on exchanges.

Here’s how related cryptocurrencies have performed during the last day:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 17.9% higher against the dollar and now trades at $0.0944 or 0.00000139 BTC.
• P2P Solutions foundation (P2PS) traded 3.5% lower against the dollar and now trades at $170.53 or 0.00253378 BTC.

Lido wstETH Profile

Lido wstETH was first traded on December 16th, 2020. Lido wstETH’s total supply is 3,714,747 tokens. The official website for Lido wstETH is www.lido.fi. Lido wstETH’s official Twitter account is @lidofinance.

According to CryptoCompare, “An ERC20 token that represents the account’s share of the total supply of stETH tokens. WstETH token’s balance only changes on transfers, unlike StETH that is also changed when oracles report staking rewards and penalties. It’s a “power user” token for DeFi protocols which don’t support rebasable tokens.

The contract is also a trustless wrapper that accepts stETH tokens and mints wstETH in return. Then the user unwraps, the contract burns user’s wstETH and sends user locked stETH in return.

The contract provides the staking shortcut: user can send ETH with regular transfer and get wstETH in return. The contract will send ETH to Lido submit method, staking it and wrapping the received stETH.”

Lido wstETH Token Trading

It is usually not presently possible to buy alternative cryptocurrencies such as Lido wstETH directly using US dollars. Investors seeking to acquire Lido wstETH should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Lido wstETH using one of the exchanges listed above.

WSTETH/USD price chart by TradingView