Lido wstETH (WSTETH) Reaches Self Reported Market Cap of $13.73 Billion

Lido wstETH (WSTETH) traded down 1.1% against the US dollar during the 1-day period ending at 18:00 PM ET on July 2nd. One Lido wstETH token can currently be purchased for about $4,004.32 or 0.06467837 BTC on major cryptocurrency exchanges. Lido wstETH has a total market cap of $13.73 billion and approximately $41.46 million worth of Lido wstETH was traded on exchanges in the last day. In the last seven days, Lido wstETH has traded 0.3% higher against the US dollar.

Here is how related cryptocurrencies have performed in the last day:

• KILT Protocol (KILT) traded down 1.6% against the dollar and now trades at $0.21 or 0.00000335 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 1.9% higher 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.
• 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 0.7% higher against the dollar and now trades at $0.0119 or 0.00000019 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Lido wstETH

Lido wstETH was first traded on December 16th, 2020. Lido wstETH’s total supply is 3,428,997 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 currently 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 Coinbase, GDAX or Changelly. 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