Lido wstETH (WSTETH) Self Reported Market Cap Reaches $9.88 Billion

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

Here is how other cryptocurrencies have performed over the last 24 hours:

• 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 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded 0.2% higher against the dollar and now trades at $89,536.14 or 0.99594791 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0.2% higher against the dollar and now trades at $89,113.41 or 0.99124570 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Lido wstETH Token Profile

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 3,659,611 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 presently possible to purchase alternative cryptocurrencies such as Lido wstETH directly using U.S. dollars. Investors seeking to acquire Lido wstETH should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. 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