Market Wrap: Fed Hikes Rates at Highest Level Since 1994, Bitcoin Rallies After
— Highly unlikely, Leading, Meet margin calls, Widened, Steth, Eth, Record high, Tremendous selling pressure, Compared, Tokens — 1 min read
Discount on locked-up ether on Lido (stETH) compared with ether (ETH) widened to a record high of 8%. Large holders including Celsius and Three Arrows Capital have been selling their tokens potentially to meet margin calls. The “ depeg ” is leading to concerns about a potential ripple effect on crypto lending markets. In the short term, there will be tremendous selling pressure, but stETH is not Terra – it is highly unlikely to fall to zero. Read more here. The ‘depeg ‘is leading to a potential Ripple effect on the crypto lending market,’ says Cautautaut. The depeg 'is not Terra’ – it’s not Terra - it is unlikely Source