Lido wstETH (WSTETH) Trading Down 8.2% Over Last 7 Days

Lido wstETH (WSTETH) traded 2% higher against the dollar during the 24 hour period ending at 0:00 AM E.T. on September 7th. One Lido wstETH token can currently be purchased for about $2,689.23 or 0.04943239 BTC on major exchanges. In the last week, Lido wstETH has traded 8.2% lower against the dollar. Lido wstETH has a total market cap of $9.80 billion and approximately $24.23 million worth of Lido wstETH was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed in the last 24 hours:

• 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 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.
• 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.
• 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.
• MVP Coin (MVP) traded down 4.5% against the dollar and now trades at $0.0506 or 0.00000094 BTC.
• 2G Carbon Coin (2GCC) traded down 0.4% against the dollar and now trades at $0.0480 or 0.00000183 BTC.

About Lido wstETH

Lido wstETH’s launch date was December 16th, 2020. Lido wstETH’s total supply is 3,643,728 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 currently possible to buy alternative cryptocurrencies such as Lido wstETH directly using US dollars. Investors seeking to trade Lido wstETH should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Lido wstETH using one of the exchanges listed above.

WSTETH/USD price chart by TradingView