This stETH Pool Has Completely Drained Trapping Investors

Large institutional investors such as Alameda Research and Three Arrows Capital used a trading pool to dump their “stETH” tokens, but the pool is now completely depleted and extremely imbalanced, potentially trapping retail investors as well troubled crypto lender Celsius. However, the so-called Curve liquidity pool, which investors used to sell their stETH, is rapidly …

Timeline of Steth

Bit.com, a crypto exchange that supports spot, contract, options, and other trading products meeting the diversified needs of its global clients, has “listed Staked Ether (STETH) on its spot and futures markets.” By listing STETH, Bit.com claims that it “becomes the first cryptocurrency exchange to.

Bit.com, the Singapore-based exchange, has listed Staked Ether (STETH) on its spot and and perpetual futures markets, according to a recent press release. Bit.com becomes the first cryptocurrency exchange to list STETH, issued by Lido Finance.

Lido's staked ether (stETH) is now almost 7% cheaper than the price of ether (ETH) due to continued selling pressure from whale holders. The post Lido staked ether selloff continues as larger holder unloads 56,000 stETH appeared first on The Block.

Venture capital firm Three Arrows on Tuesday swapped about $33 million worth of Lido Staked Ethereum (stETH) for Ethereum on DeFi platform Curve. The move comes as stETH prices diverge further from ETH prices in secondary markets, pressuring traders using the DeFi token as collateral.

In the wake of Lido staked Ethereum depeg from Ethereum, fears of a repeat of last month's market crash are around. The Staked ETH situation has so far resulted in Ethereum dropping 7.56% in the last 24 hours.

In the previous 24 hours, the price of Ethereum, the second largest cryptocurrency, has plummeted by 8%, with Lido's staked ETH (stETH) token price following suit and causing panic in the cryptocurrency market.