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

📆 6/2/2023 12:33 AM
📰 CryptoAmb

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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.

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