Details about Wrapped stETH cryptocurrency
€146,007,000
2,982,563
32.682
Unknown
https://lido.fi/
@LidoFinance
116x
€395854
Wrapped stETH price charts
WSTETH exchanges
Wrapped stETH, the crypto
Wrapped stETH (WSTETH) is a token that represents a share of the staked ether (ETH) in the Lido Finance pool, allowing stETH holders to use their tokens in various DeFi applications without having to unstake them from the pool.
The point
The main point of Wrapped stETH (WSTETH) is to provide liquidity to stETH holders, allowing them to use their staked assets in different DeFi applications without having to completely exit Lido Finance's staking pool.
The problem
Wrapped stETH (WSTETH) solves the problem of illiquidity faced by staked ETH holders. Prior to the development of Wrapped stETH, staked ETH users were unable to use their staked assets in other DeFi protocols without unstaking their tokens, which could be a time-consuming process. WSTETH provides a solution that allows stETH holders to keep their assets in the pool while still accessing liquidity.
Compare WSTETH and BTC performance
| Timeframe | WSTETH | BTC |
|---|---|---|
| 1h change | 0.419829 % | -0.234911 % |
| 24h change | -0.28 % | 1.25967 % |
| 7 day change | 1.6 % | -1.44157 % |
| 14 day change | -8.92 % | -9.47799 % |
| 30 day change | -9.17 % | -7.33786 % |
| 200 day change | 102.27 % | 129.168 % |
| Year change | 72.21 % | 129.33 % |