Lido wstETH (WSTETH) Tops 24 Hour Trading Volume of $38.54 Million

Lido wstETH (WSTETH) traded down 2.5% against the U.S. dollar during the twenty-four hour period ending at 10:00 AM ET on August 7th. One Lido wstETH token can currently be purchased for about $2,859.52 or 0.05081423 BTC on major cryptocurrency exchanges. Lido wstETH has a market cap of $10.34 billion and approximately $38.54 million worth of Lido wstETH was traded on exchanges in the last 24 hours. During the last week, Lido wstETH has traded down 26.6% against the U.S. dollar.

Here is how other cryptocurrencies have performed during the last 24 hours:

• 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 2.2% lower 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 up 1.2% 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 1.5% against the dollar and now trades at $0.0122 or 0.00000022 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 8.7% lower against the dollar and now trades at $0.0607 or 0.00000107 BTC.

Lido wstETH Token Profile

Lido wstETH launched on December 16th, 2020. Lido wstETH’s total supply is 3,617,235 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 possible to purchase alternative cryptocurrencies such as Lido wstETH directly using US dollars. Investors seeking to acquire Lido wstETH should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or Coinbase. 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