Lido wstETH Price Down 14.7% Over Last Week (WSTETH)

Lido wstETH (WSTETH) traded 2.5% higher against the US dollar during the one day period ending at 9:00 AM Eastern on December 24th. Lido wstETH has a market cap of $14.82 billion and approximately $36.96 million worth of Lido wstETH was traded on exchanges in the last day. In the last week, Lido wstETH has traded down 14.7% against the US dollar. One Lido wstETH token can currently be bought for $4,052.42 or 0.04267770 BTC on major exchanges.

Here’s how related cryptocurrencies have performed in the last day:

• 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 2.2% lower 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.
• 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.
• SolvBTC (SOLVBTC) traded down 1.3% against the dollar and now trades at $94,241.27 or 0.99249467 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 1% lower against the dollar and now trades at $93,614.01 or 0.98588870 BTC.
• Lumi Credits (LUMI) traded up 8.9% 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 Token Profile

Lido wstETH launched on December 16th, 2020. Lido wstETH’s total supply is 3,656,001 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 U.S. dollars. Investors seeking to acquire Lido wstETH should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Lido wstETH using one of the exchanges listed above.

WSTETH/USD price chart by TradingView