Lido wstETH (WSTETH) Self Reported Market Capitalization Achieves $948.41 Million

Lido wstETH (WSTETH) traded 1% higher against the dollar during the twenty-four hour period ending at 21:00 PM Eastern on April 28th. During the last week, Lido wstETH has traded up 4% against the dollar. One Lido wstETH token can now be bought for about $3,815.52 or 0.06043948 BTC on major exchanges. Lido wstETH has a total market capitalization of $948.41 million and $94.78 million worth of Lido wstETH was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed during the last day:

• KILT Protocol (KILT) traded up 2.8% against the dollar and now trades at $0.30 or 0.00000471 BTC.
• 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 2.2% lower 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.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 1.4% against the dollar and now trades at $0.0097 or 0.00000015 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Lido wstETH Token Profile

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 646,650 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.”

Buying and Selling Lido wstETH

It is usually not currently possible to purchase alternative cryptocurrencies such as Lido wstETH directly using US dollars. Investors seeking to acquire Lido wstETH should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. 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