Lido stETH (STETH)
|Volume / Market Cap||0.004715|
|Total Supply||4,864,537 STETH|
Lido stETH is currently trading at $1,393.04, after a price change of 3.35% in the last 24 hours.
Ranked as cryptocurrency #202 by capitalization today, STETH market cap is valued at $4,858,320,282. STETH trading volume reached $22,907,918 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on STETH coin price prediction page.
What is Lido Staked Ether?
Lido Staked Ether or stETH is a crypto token representing a staked token in the LIDO protocol. This staking application was launched on December 19, 2020. Vasiliy Shapovalov was one of its co-founders. It is a decentralized independent organization that lets users stake their coins without compromising liquidity.
By depositing ETH coins on this platform, members can receive incentives in the form of stETH tokens. The coin is rebased on a daily basis and new recipients can readily earn the profits of the previous holder. The stakers cannot select which members receive the asset when they perform staking on this platform. Holders can take part in discussions and vote to select approved operators.
The stETH token has a one-to-one relationship with ETH. The staking mechanism is entirely decentralized, and all members can view the updates, proposals, and decisions. It is based on a proof-of-stake protocol where the stakeholders’ rewards depend on the respective staked amounts. Half of the commissions are used for providing safety and insurance for the members and for improving the features of the platform.