Lido wstETH (WSTETH) Reaches Self Reported Market Cap of $8.25 Billion

Lido wstETH (WSTETH) traded up 2.2% against the U.S. dollar during the twenty-four hour period ending at 9:00 AM E.T. on July 3rd. Lido wstETH has a market capitalization of $8.25 billion and approximately $4.92 million worth of Lido wstETH was traded on exchanges in the last day. One Lido wstETH token can currently be bought for $2,159.51 or 0.03479363 BTC on popular exchanges. In the last week, Lido wstETH has traded 12.8% higher against the U.S. dollar.

Here is how similar cryptocurrencies have performed in 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 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 up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded up 0.6% against the dollar and now trades at $61,905.88 or 0.99741388 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 2.3% higher against the dollar and now trades at $61,304.63 or 0.99432481 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 genesis date was December 16th, 2020. Lido wstETH’s total supply is 3,821,429 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. Telegram, Discord, Reddit, Blog”

Buying and Selling Lido wstETH

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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Lido wstETH using one of the aforementioned exchanges.

WSTETH/USD price chart by TradingView