Lido wstETH (WSTETH) Reaches Self Reported Market Capitalization of $11.67 Billion

Lido wstETH (WSTETH) traded 6.7% higher against the US dollar during the 24 hour period ending at 10:00 AM E.T. on November 6th. One Lido wstETH token can currently be bought for $3,104.09 or 0.04217083 BTC on exchanges. Lido wstETH has a total market capitalization of $11.67 billion and $39.75 million worth of Lido wstETH was traded on exchanges in the last day. In the last week, Lido wstETH has traded down 2.5% against the US dollar.

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

• Aidi Finance (BSC) (AIDI) traded down 2.2% 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 up 1.2% 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 up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded up 5.6% against the dollar and now trades at $73,748.44 or 1.00191568 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 5.1% higher against the dollar and now trades at $73,126.53 or 0.99346658 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Lido wstETH Token Profile

Lido wstETH’s genesis date was December 16th, 2020. Lido wstETH’s total supply is 3,759,895 tokens. Lido wstETH’s official Twitter account is @lidofinance. Lido wstETH’s official website is www.lido.fi.

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.”

Buying and Selling Lido wstETH

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

WSTETH/USD price chart by TradingView