Lido wstETH Reaches Self Reported Market Cap of $9.83 Billion (WSTETH)

Lido wstETH (WSTETH) traded down 3.6% against the U.S. dollar during the 24 hour period ending at 7:00 AM ET on September 7th. Over the last week, Lido wstETH has traded 9.4% lower against the U.S. dollar. Lido wstETH has a market cap of $9.83 billion and $47.81 million worth of Lido wstETH was traded on exchanges in the last 24 hours. One Lido wstETH token can now be purchased for $2,688.11 or 0.04941279 BTC on cryptocurrency exchanges.

Here’s how similar cryptocurrencies have performed over 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 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.
• 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 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 4.9% lower against the dollar and now trades at $0.0504 or 0.00000093 BTC.
• 2G Carbon Coin (2GCC) traded down 0.4% against the dollar and now trades at $0.0480 or 0.00000183 BTC.

About Lido wstETH

Lido wstETH was first traded on December 16th, 2020. Lido wstETH’s total supply is 3,657,110 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.”

Buying and Selling Lido wstETH

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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. 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