Lido wstETH (WSTETH) Trading Down 3.9% This Week

Lido wstETH (WSTETH) traded up 5% against the dollar during the 24-hour period ending at 22:00 PM E.T. on November 5th. Over the last seven days, Lido wstETH has traded down 3.9% against the dollar. One Lido wstETH token can currently be bought for $2,986.50 or 0.04087487 BTC on popular cryptocurrency exchanges. Lido wstETH has a market cap of $11.22 billion and approximately $25.03 million worth of Lido wstETH was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over 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 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.
• 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 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.
• SolvBTC (SOLVBTC) traded 7% higher against the dollar and now trades at $72,654.02 or 0.99438203 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 6.1% against the dollar and now trades at $71,944.27 or 0.98466814 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Lido wstETH Token Profile

Lido wstETH launched on December 16th, 2020. Lido wstETH’s total supply is 3,755,313 tokens. Lido wstETH’s official website 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 presently possible to buy alternative cryptocurrencies such as Lido wstETH directly using U.S. dollars. Investors seeking to acquire Lido wstETH should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Lido wstETH using one of the aforementioned exchanges.

WSTETH/USD price chart by TradingView