Data shows that staked ether and ether traded at parity up until May 7, when Terra’s stablecoin, UST, started to wobble from its $1 peg. Since then, stETH has been unable to recover to the full ETH price. On May 12, when UST dropped to 7 cents, stETH-ETH exchange ratio fell to as low as 0.955, and ever since then, staked ether has traded at a discount of 2-3%.
Originally Posted on: https://www.coindesk.com/markets/2022/06/02/staked-ether-discount-after-terra-collapse-a-sign-of-liquidity-crunch-in-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Krisztian Sandor