Fortune - Trading pool where investors dump ‘stETH’ tokens is drying up and it’s complicating exit for future sellers

in blockchain •  3 years ago 

https://fortune.com/2022/06/17/steth-token-trading-pool-crypto-investors/
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The Curve blockchain protocol is used by large institutional crypto investors such as Alameda and Three Arrows Capital to dump their staked ether (stETH) tokens.

However, Curve's liquidity pool for dumping this stETH is currently depleted, forcing future sellers to look to the OTC market, where transparency is low and discounts are steep.

This occurred because the price of the stETH token unexpectedly deviated from the price of ETH when it should have pegged against Ethereum, the second largest crypto coin after Bitcoin.

Are you a stETH coin holder? Be careful when deciding whether to hold it or sell it!!

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blockchain horror dump steth eth curve liquidity pool
3 years ago by

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      ·  3 years ago 

    @tipu curate

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