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

Lido wstETH (WSTETH) traded down 4.7% against the dollar during the 1-day period ending at 7:00 AM E.T. on April 16th. Lido wstETH has a total market cap of $948.41 million and $57.39 million worth of Lido wstETH was traded on exchanges in the last 24 hours. During the last week, Lido wstETH has traded 15.9% lower against the dollar. One Lido wstETH token can now be purchased for $3,564.44 or 0.05698613 BTC on popular cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed during the last 24 hours:

• KILT Protocol (KILT) traded up 4.6% against the dollar and now trades at $0.35 or 0.00000562 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 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 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 down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 2.7% lower against the dollar and now trades at $0.0086 or 0.00000014 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Lido wstETH

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 646,650 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 trade Lido wstETH should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Lido wstETH using one of the aforementioned exchanges.

WSTETH/USD price chart by TradingView