Lido wstETH Achieves Self Reported Market Cap of $11.85 Billion (WSTETH)

Lido wstETH (WSTETH) traded 2.2% higher against the US dollar during the twenty-four hour period ending at 16:00 PM E.T. on October 20th. One Lido wstETH token can now be bought for about $3,192.89 or 0.04645195 BTC on popular exchanges. Lido wstETH has a total market capitalization of $11.85 billion and $14.08 million worth of Lido wstETH was traded on exchanges in the last day. During the last week, Lido wstETH has traded up 10.1% against the US dollar.

Here is how similar cryptocurrencies have performed during 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 1.2% higher 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 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 1.8% higher against the dollar and now trades at $0.0801 or 0.00000117 BTC.
• P2P Solutions foundation (P2PS) traded 2.3% higher against the dollar and now trades at $175.20 or 0.00254890 BTC.

Lido wstETH Token Profile

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 3,709,915 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.”

Lido wstETH Token Trading

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

WSTETH/USD price chart by TradingView