Lido wstETH Trading Down 6.1% This Week (WSTETH)

Lido wstETH (WSTETH) traded down 2.2% against the dollar during the one day period ending at 9:00 AM Eastern on January 9th. Lido wstETH has a market capitalization of $14.37 billion and $18.10 million worth of Lido wstETH was traded on exchanges in the last day. Over the last seven days, Lido wstETH has traded down 6.1% against the dollar. One Lido wstETH token can currently be bought for about $3,902.73 or 0.04228851 BTC on cryptocurrency exchanges.

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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded 2.8% lower against the dollar and now trades at $92,404.64 or 1.00126273 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 2.4% lower against the dollar and now trades at $92,352.87 or 1.00070184 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Lido wstETH Profile

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 3,681,590 tokens. Lido wstETH’s official Twitter account is @lidofinance. The official website for Lido wstETH is www.lido.fi.

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 possible to buy alternative cryptocurrencies such as Lido wstETH directly using US dollars. Investors seeking to acquire Lido wstETH should first buy Ethereum or Bitcoin using an exchange that deals in US 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