Lido wstETH (WSTETH) Hits Self Reported Market Cap of $11.56 Billion

Lido wstETH (WSTETH) traded 0.3% lower against the US dollar during the 24 hour period ending at 21:00 PM E.T. on August 13th. In the last seven days, Lido wstETH has traded up 10.6% against the US dollar. One Lido wstETH token can currently be purchased for approximately $3,182.30 or 0.05251624 BTC on major exchanges. Lido wstETH has a market cap of $11.56 billion and approximately $64.21 million worth of Lido wstETH was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• 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 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 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 1.9% against the dollar and now trades at $0.0129 or 0.00000021 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded up 0% against the dollar and now trades at $0.0586 or 0.00000097 BTC.

Lido wstETH Profile

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 3,632,739 tokens. Lido wstETH’s official website 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.”

Buying and Selling Lido wstETH

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 Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Lido wstETH using one of the aforementioned exchanges.

WSTETH/USD price chart by TradingView