Lido wstETH Self Reported Market Capitalization Achieves $9.88 Billion (WSTETH)

Lido wstETH (WSTETH) traded up 2.8% against the US dollar during the 24-hour period ending at 9:00 AM E.T. on March 6th. In the last week, Lido wstETH has traded down 3.4% against the US dollar. One Lido wstETH token can currently be purchased for $2,700.19 or 0.03003532 BTC on cryptocurrency exchanges. Lido wstETH has a market cap of $9.88 billion and approximately $13.76 million worth of Lido wstETH was traded on exchanges in the last day.

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

• Taiko (TAIKO) traded up 0.8% against the dollar and now trades at $0.83 or 0.00000919 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 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.
• SolvBTC (SOLVBTC) traded up 0.2% against the dollar and now trades at $89,536.14 or 0.99594791 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 0.2% against the dollar and now trades at $89,113.41 or 0.99124570 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Lido wstETH Token Profile

Lido wstETH launched on December 16th, 2020. Lido wstETH’s total supply is 3,659,611 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 trade Lido wstETH should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Gemini 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