Lido wstETH (WSTETH) Hits Self Reported Market Cap of $948.41 Million

Lido wstETH (WSTETH) traded down 0.7% against the U.S. dollar during the 24 hour period ending at 7:00 AM E.T. on March 29th. One Lido wstETH token can currently be bought for $4,117.37 or 0.05861907 BTC on popular cryptocurrency exchanges. Over the last seven days, Lido wstETH has traded up 2.4% against the U.S. dollar. Lido wstETH has a total market capitalization of $948.41 million and $52.39 million worth of Lido wstETH was traded on exchanges in the last day.

Here is how related cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded 2.2% lower against the dollar and now trades at $0.44 or 0.00000627 BTC.
• 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 down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 0.3% against the dollar and now trades at $0.0093 or 0.00000013 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Lido wstETH Profile

Lido wstETH launched on December 16th, 2020. Lido wstETH’s total supply is 646,650 tokens. Lido wstETH’s official Twitter account is @lidofinance. The official website for Lido wstETH 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.”

Lido wstETH Token Trading

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

WSTETH/USD price chart by TradingView