wstETH is a wrapped version of stETH. Instead of rebasing, or changing account holdings daily it is similar to a c-token. It represents a pro-rata ownership of the staked ETH (stETH). When someone exits wstETH they are returned principal stETH + stETH earnings.
Lido is a liquid staking protocol for POS blockchains. It gives you a liquid token that represents your staked collateral and earnings over time. Lido removes the need to run infrastructure and enabling continued participation in DeFi.
wstETH is minted and burned as stETH is wrapped and unwrapped.
Wrapped stETH Price Analysis
As of November 24 2024 Wrapped stETH has a marketcap of $15B.
This is {{percentagefromath}} from its all time high of $7.25602K.
In terms of its tokenomics, there's a total supply of 3.6M with 100% currently outstanding.
Keep in mind Wrapped stETH has a fully diluted value of $15B which many investors might interpret as overvalued.
Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.
Summarized in part by ChatGPT 4 and Claude
