News Formal

Rising interest in staked ETH: Implications for Lido, Rocket Pool and Frax Finance

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

Recent data shows a surge in wstETH deposits on Aave, raising questions about the impact on Lido, Rocket Pool, and Frax Finance.

For context, wstETH represents wrapped staked Ethereum, which tokenizes the ETH locked in a proof-of-stake network.

With the recent spike in Ethereum deposits, Aave stands to benefit. Users can now earn interest on their staked assets, allowing them to passively grow their holdings. Lido, a liquid staking protocol, has seen its daily activity surge by 46% over the last month. This growth can be attributed to users seeking to participate in staking while maintaining liquidity through Lido’s tokenized representation of staked ETH.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Deputy minister of finance Michael Sabia named CEO of Hydro-QuébecBut what the business veteran finds when he gets to corner suite at the provincially owned company could be unlike anything he’s dealt with before
Source: globeandmail - 🏆 5. / 92 Read more »