Lido wstETH (WSTETH) Sees Notable Uptick, Valued Over $3.2K Amidst Active Trading

The cryptocurrency Lido wstETH, also known as WSTETH, experienced a rise of 2.8% against the US dollar over a single day, concluding at 14:00 PM E.T. on February 15th. By the end of that period, one Lido wstETH token was valued at $3,263.06 or its Bitcoin equivalent of 0.06287764 BTC. Major cryptocurrency exchanges were the platforms where these transactions primarily took place.

Market Performance and Trading Volume

Lido wstETH's market capitalization soared to $948.41 million, alongside a substantial trading volume of about $92.17 million over the last day. In a span of a week, the digital asset showed a remarkable weekly ascend of 16.2% against the dollar.

Comparative Cryptocurrency Movements

Other cryptocurrencies have seen various movements in the last day. KILT Protocol dropped by 0.9%, while Aidi Finance faced a 2.2% decrease. Zoo Token and CareCoin also declined by 2.2%, whereas Kitty Inu saw a 1.9% rise. Additionally, Lego Coin experienced a significant surge by 60.3%. These movements reflect the dynamic nature of the crypto market.

About Lido wstETH

The Lido wstETH token, with a genesis date of December 16th, 2020, is an ERC20 token representing the holder's share of the total supply of stETH tokens. With a total supply of 646,650 tokens, wstETH is directed at DeFi protocols and offers a stable balance that alters only through transfers.

The wstETH token is a product of a contract that accepts stETH tokens in exchange for wstETH and operates in reverse when unwrapped. This contract not only acts as a wrapper but also provides a staking shortcut, allowing users to receive wstETH directly through an ETH transfer, with staking and wrapping operations in the background.

Trading Lido wstETH

Currently, direct purchases of Lido wstETH with US dollars are not possible. Interested investors must initially acquire Bitcoin or Ethereum through US dollar exchanges like Changelly, Coinbase, or Gemini. They can then exchange these for Lido wstETH on the aforementioned exchanges.

Lido, wstETH, Trading