Lido wstETH Reaches Self Reported Market Capitalization of $13.14 Billion (WSTETH)

Lido wstETH (WSTETH) traded 8.8% lower against the US dollar during the one day period ending at 9:00 AM E.T. on July 25th. Over the last week, Lido wstETH has traded down 8.6% against the US dollar. One Lido wstETH token can now be bought for about $3,705.35 or 0.05782102 BTC on popular exchanges. Lido wstETH has a market capitalization of $13.14 billion and approximately $47.15 million worth of Lido wstETH was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded down 1.2% against the dollar and now trades at $0.19 or 0.00000291 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 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 1.7% higher against the dollar and now trades at $0.0131 or 0.00000020 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Lido wstETH

Lido wstETH launched on December 16th, 2020. Lido wstETH’s total supply is 3,545,962 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.”

Buying and Selling Lido wstETH

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

WSTETH/USD price chart by TradingView