What you need to know about staked ether, the token at the center of crypto’s liquidity crisis
— Crisis, Center, Eth, Staked, Token, Liquidity, Value, Ether, Steths, Crypto, Cryptos, Tokens, Need, Steth, Know, Users — 1 min read
Staked ether, or stETH, is a token that's supposed to be worth the same as ether. On Friday, stETH fell as low as 0.92 ETH, implying an 8% discount to ether. Staking is a practice where investors lock up their tokens for a period of time to contribute to the security of a crypto network. It is an important part of decentralized finance, which aims to replicate financial services like lending and insurance using blockchain technology. Investors worry that the fall in stETH's value will hit even more players in the crypto market, including hedge fund 3AC. Source