Lido Staked ETH (stETH) has experienced a trading increase of 1.2% against the US dollar over the past week, with its market performance reflecting stability in the volatile cryptocurrency landscape. As of December 31st, during the 24-hour period concluding at 11:00 AM Eastern, the token”s price showed no significant change, trading at approximately $2,972.85, which equates to around 0.03401840 BTC.
The market capitalization of Lido Staked ETH stands at an impressive $26.18 billion, underscoring its relevance in the cryptocurrency market. In the last 24 hours, trading activity for stETH reached approximately $15.99 million, indicating ongoing interest from investors and traders alike.
Launched on December 18th, 2020, Lido Staked ETH allows Ethereum holders to stake their assets, earning rewards while maintaining liquidity through the use of stETH tokens. The total supply of stETH currently amounts to 8,806,672 tokens, which provides a glimpse into its availability in the market.
For those looking to enter the stETH market, it is typically not feasible to purchase this cryptocurrency directly with US dollars. Prospective investors must first acquire either Ethereum or Bitcoin through exchanges such as GDAX, Gemini, or Changelly, before exchanging their holdings for stETH.
In an era where decentralized finance (DeFi) continues to attract significant attention, Lido Staked ETH stands out by allowing users to earn rewards from staking without sacrificing the flexibility to trade. Its official website, lido.fi, offers further insights and resources for users interested in this innovative staking solution.
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