glassnode: Rising WETH Borrowing Rates on Aave Cause stETH Depegging
According to Foresight News, data from glassnode shows that the rising WETH lending rates on Aave have rendered the stETH leverage loop unprofitable, triggering liquidations in the ETH/stETH liquidity pool and causing stETH to depeg, which has intensified selling pressure on ETH. In addition, the continuous growth of the validator exit queue has further increased arbitrage resistance, slowing the recovery of the peg.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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