Lido Staked ETH (stETH) Close To Ethereum Price, Why It’s Good For Crypto

Lido Staked ETH (stETH) Close To Ethereum Price, Why It’s Good For Crypto

Share

🗳 Fact/FUD

Lido Staked ETH (stETH) Close To Ethereum Price, Why It’s Good For Crypto

CoinGapea month ago
EthereumEthereum
BinkiesBinkies
RoseRose
StakeHound Staked EtherStakeHound Staked Ether
Lido Staked ETHLido Staked ETH
Published on July 05, 2022 14:55 GMT+00:00edited on July 06, 2022 11:24 GMT+00:00

Share

Lido Staked Ethereum (stETH) Close To Eth Price, Why It’s Good For Crypto

Lido Staked Ethereum (stETH) slowly repegs with Ethereum (ETH) as total staking assets rose on DeFi liquidity giant Lido. stETH-ETH peg has improved to 0.9778 with the stETH price trading closer to Ethereum (ETH) price at $1073 and $1100, respectively.

Moreover, Lido’s native token LDO has jumped by more than 25% in the last 24 hours, making a high of $0.66. Despite losing some gains, the token is moving strongly with trading volume bouncing over 150%.

What Lido Staked Ethereum (stETH) Peg to Ethereum (ETH) Means for the Crypto Market

The Lido’s staked Ethereum depeg last month caused massive selloffs in cryptocurrencies causing the market to crash. With the stETH-ETH peg improving further, the possibility of market recovery seems in sight.

Moreover, the ongoing liquidity …