Source: stETHUSDT Chart by TradingView
stETH is a token that represents staked ether in Lido, combining the value of initial deposit + staking rewards. stETH tokens are pegged 1:1 to the ETH staked with Lido and can be used as one would use ether, allowing users to earn Eth2 staking rewards whilst benefiting from Defi yields.
Nansen report reveals Terra caused the stETH depeg and crippled Celsius, 3AC
A new report by Nansen walks through the events that led to 3AC and Celsius exiting their stETH positions amid the collapse of Terra and the unwrapping of 600K bETH.
CryptoSlate Wrapped Daily: Bitcoin worth $1.5B leaves Coinbase; Mid-cap tokens outperform Bitcoin
Binance BTC proof of reserves shows it holds roughly 582,000 BTC, Coinbase BTC reserve declines by 100,000 BTC in 48 hours, and much more in this edition of CryptoSlate Wrapped Daily.
Massive staked Ethereum withdrawals by whales allow arbitrageurs to profit
Peckshield also reported that a whale withdrew 42,400 stETH from Aave.
MakerDAO MKR community approves ‘endgame’ proposal
Some community members have pointed out that the Maker’s founder had influence over 50% of the votes in support of the proposal.
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