Lido wstETH (WSTETH) Trading Down 24.2% Over Last Week

Lido wstETH (WSTETH) traded down 1.3% against the US dollar during the one day period ending at 22:00 PM Eastern on August 6th. Lido wstETH has a total market capitalization of $10.60 billion and approximately $43.07 million worth of Lido wstETH was traded on exchanges in the last day. One Lido wstETH token can currently be purchased for $2,915.11 or 0.05122338 BTC on major exchanges. In the last week, Lido wstETH has traded 24.2% lower against the US dollar.

Here’s how related cryptocurrencies have performed in 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 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 down 2.2% 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 $0.0121 or 0.00000021 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 up 8.2% against the dollar and now trades at $0.0678 or 0.00000121 BTC.

Lido wstETH Profile

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 3,635,677 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.”

Lido wstETH Token Trading

It is usually not presently possible to purchase alternative cryptocurrencies such as Lido wstETH directly using U.S. dollars. Investors seeking to trade Lido wstETH should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Lido wstETH using one of the aforementioned exchanges.

WSTETH/USD price chart by TradingView