Lido wstETH (WSTETH) experienced a 3.5% decline in value against the US dollar over the 24-hour period ending at 10:00 AM Eastern on February 9th. The token is currently priced at approximately $2,502.13 or 0.03634129 BTC on major cryptocurrency platforms. Over the past week, Lido wstETH has seen a 13.1% decrease in its dollar value.
Trading activity for Lido wstETH reached $8.68 million within this timeframe, reflecting continued market interest despite the recent price drop.
**Why this matters**
Lido wstETH is a wrapped version of staked Ether, representing staked assets on the Ethereum network. Its trading volume and price movements can indicate investor sentiment toward Ethereum staking and the broader decentralized finance (DeFi) ecosystem. Significant fluctuations in WSTETH may impact liquidity and staking participation in the Ethereum network.
Source: NewsData