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

Lido wstETH (WSTETH) traded down 0.9% against the U.S. dollar during the 24-hour period ending at 20:00 PM Eastern on April 26th. During the last week, Lido wstETH has traded 2.5% higher against the U.S. dollar. Lido wstETH has a total market cap of $948.41 million and $107.81 million worth of Lido wstETH was traded on exchanges in the last day. One Lido wstETH token can currently be bought for approximately $3,637.76 or 0.05736579 BTC on cryptocurrency exchanges.

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

• KILT Protocol (KILT) traded 3% lower against the dollar and now trades at $0.32 or 0.00000504 BTC.
• 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 up 1.9% 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.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 3.1% higher against the dollar and now trades at $0.0096 or 0.00000015 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Lido wstETH Profile

Lido wstETH was first traded 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.”

Buying and Selling Lido wstETH

It is usually not currently 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 Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Lido wstETH using one of the aforementioned exchanges.

WSTETH/USD price chart by TradingView