fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Thursday, March 23, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

Bit.com Enables Trading of Staked Ether on Spot and Perpetual Futures Markets

June 15, 2022
in Blockchain
Reading Time: 3 mins read
A A
Bit.com Enables Trading of Staked Ether on Spot and Perpetual Futures Markets
ShareShareShareShareShare

Singapore-based crypto exchange Bit.com has launched Staked Ether (STETH) on spot and perpetual futures markets to meet the diversified needs of cryptocurrency users.

Related articles

Federal Reserve Admits Blindsided Oversight of SVB Collapse

Federal Reserve Admits Blindsided Oversight of SVB Collapse

March 23, 2023
Now Telegram Messaging App Supports USDT Payment

Now Telegram Messaging App Supports USDT Payment

March 23, 2023

By listing STETH on the spot and futures markets, Bit.com seeks to enhance the token’s liquidity as a shift from the proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) framework called the merge continues to gain steam in the Ethereum network.

 

Per the announcement:

“STETH is an ERC-20 token pegged to Ether (ETH), the native currency of Ethereum. It is issued by Lido Finance, a DeFi protocol providing staking services on Ethereum’s proof-of-stake blockchain, Solana, Polygon, Polkadot, and Kusama smart contracting platforms.”

Therefore, STETH denotes ETH locked in the Ethereum 2.0 deposit contract, also known as the Beacon Chain, by validators. It is pegged to ETH in the ratio of 1:1.

 

On the other hand, STETH is a derivative asset that allows validators to unlock their liquidity and borrow more Ether from decentralized finance (DeFi) platforms because they already staked ETH cannot be withdrawn until a switch to a proof-of-stake framework happens. 

 

Since Ethereum plays host to numerous decentralized applications (dApps), from gaming to non-fungible tokens (NFTs), STETH will play an instrumental role in enabling holders to compound yields from various DeFi protocols. 

 

As of mid-June 2022, the total value locked (TVL) in STETH stood at $5.23 billion from 132,086 stakers, and Lido Finance expects the annual yield to be 4% with no lock-ups. 

 

Since Justin Drake, an Ethereum researcher, recently disclosed that the merge was expected to materialize in August because testing was in the final stages, it remains to be seen whether it will happen because it has been quite elusive. 

 

Nevertheless, Korpi, a DeFi educator, recently noted that switching to a proof-of-stake consensus mechanism would be a game-changer that would shift the selling pressure experienced in the Ethereum network to buy. After all, structural supply would change to structural buying.

Image source: Shutterstock

Credit: Source link

ShareTweetSendPinShare
Previous Post

SEC Chair Says Lummis-Gillibrand Bill Could ‘Undermine’ Market Protections

Next Post

South Korean Government Calls for Voluntary Regulations From Crypto Industry – Regulation Bitcoin News

Related Posts

Federal Reserve Admits Blindsided Oversight of SVB Collapse

Federal Reserve Admits Blindsided Oversight of SVB Collapse

March 23, 2023

The recent collapse of Silicon Valley Bank (SVB) has prompted an internal investigation by the Federal Reserve to look into...

Now Telegram Messaging App Supports USDT Payment

Now Telegram Messaging App Supports USDT Payment

March 23, 2023

Last updated Mar 23, 2023 Telegram’s wallet bot added support for first ranked stablecoin USDT.Telegram is a popular p2p messaging...

Nigerian CBDC Adoption Surging Amid Currency Demonetization

Nigerian CBDC Adoption Surging Amid Currency Demonetization

March 23, 2023

Last updated Mar 23, 2023 Nigeria’s e-Naira saw a significant inflow of users amid the shortage of cash. Nigeria is a...

eNaira Adoption Grows Amid Nigeria’s Cash Shortages

eNaira Adoption Grows Amid Nigeria’s Cash Shortages

March 23, 2023

Nigeria's central bank launched its own digital currency, the eNaira, in 2021, and nearly 18 months later, the CBDC is...

Visa Reports Record-Breaking Cryptocurrency Thefts in 2022

Visa Reports Record-Breaking Cryptocurrency Thefts in 2022

March 23, 2023

Visa, one of the world's leading payment providers, has released its biannual threat report, revealing that 2022 saw a record-breaking...

Load More
Next Post
South Korean Government Calls for Voluntary Regulations From Crypto Industry – Regulation Bitcoin News

South Korean Government Calls for Voluntary Regulations From Crypto Industry – Regulation Bitcoin News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Top fintech and crypto regulation to keep an eye on in 2023 – Benzinga

Top fintech and crypto regulation to keep an eye on in 2023 – Benzinga

March 23, 2023
Crypto regulation: 'I think we'll see significant action towards legislation this year,' Coinbase exec says – Yahoo Finance

Crypto regulation: 'I think we'll see significant action towards legislation this year,' Coinbase exec says – Yahoo Finance

March 17, 2023
U.S. IRS explores NFT taxation; seeks public discourse

U.S. IRS explores NFT taxation; seeks public discourse

March 22, 2023
Microsoft Is Testing an Ethereum Wallet in Its Edge Web Browser – News Bitcoin News

Microsoft Is Testing an Ethereum Wallet in Its Edge Web Browser – News Bitcoin News

March 20, 2023
XRP Eyes $0.40, Market Cap Touches $20 Billion & Gets $900 Million Inflows

XRP Eyes $0.40, Market Cap Touches $20 Billion & Gets $900 Million Inflows

March 20, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Editorial: Why embattled crypto needs traditional rules, not a new … – Chicago Tribune
  • IOTA and Web3 Builder NakamaLabs explore the benefits of tokenization with real-world use cases
  • Ripple’s Chief Legal Officer Reacts To SEC’s Wells Notice to Coinbase
  • Federal Reserve Admits Blindsided Oversight of SVB Collapse
  • Congressman Emmer introduces bill providing ‘safe harbor’ to miners, developers and wallets
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$28,348.002.93%
  • ethereumEthereum(ETH)$1,821.874.30%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.01-0.48%
  • binancecoinBNB(BNB)$330.341.51%
  • usd-coinUSD Coin(USDC)$1.00-0.24%
  • rippleXRP(XRP)$0.4450823.84%
  • cardanoCardano(ADA)$0.3719652.07%
  • dogecoinDogecoin(DOGE)$0.0775984.55%
  • staked-etherLido Staked Ether(STETH)$1,816.934.23%
  • matic-networkPolygon(MATIC)$1.130.29%
  • solanaSolana(SOL)$22.161.59%
  • binance-usdBinance USD(BUSD)$1.00-0.86%
  • polkadotPolkadot(DOT)$6.273.00%
  • litecoinLitecoin(LTC)$93.337.73%
  • shiba-inuShiba Inu(SHIB)$0.0000111.97%
  • tronTRON(TRX)$0.06601910.44%
  • avalanche-2Avalanche(AVAX)$17.584.47%
  • daiDai(DAI)$1.00-0.11%
  • uniswapUniswap(UNI)$6.232.97%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,426.003.17%
  • chainlinkChainlink(LINK)$7.595.27%
  • cosmosCosmos Hub(ATOM)$11.723.82%
  • leo-tokenLEO Token(LEO)$3.38-0.05%
  • ToncoinToncoin(TON)$2.00-17.17%
  • ethereum-classicEthereum Classic(ETC)$20.733.79%
  • moneroMonero(XMR)$156.404.89%
  • okbOKB(OKB)$45.00-0.22%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$128.151.38%
  • stellarStellar(XLM)$0.0927242.71%
  • filecoinFilecoin(FIL)$5.905.43%
  • AptosAptos(APT)$13.116.07%
  • true-usdTrueUSD(TUSD)$1.00-0.81%
  • lido-daoLido DAO(LDO)$2.33-1.59%
  • hedera-hashgraphHedera(HBAR)$0.0624121.30%
  • quant-networkQuant(QNT)$127.031.33%
  • ArbitrumArbitrum(ARB)$1.42-71.74%
  • crypto-com-chainCronos(CRO)$0.0701492.20%
  • nearNEAR Protocol(NEAR)$2.045.20%
  • vechainVeChain(VET)$0.0236433.41%
  • blockstackStacks(STX)$1.16-0.34%
  • algorandAlgorand(ALGO)$0.2182290.24%
  • internet-computerInternet Computer(ICP)$5.193.86%
  • apecoinApeCoin(APE)$4.134.51%
  • fantomFantom(FTM)$0.4911553.74%
  • the-graphThe Graph(GRT)$0.1531126.78%
  • eosEOS(EOS)$1.165.35%
  • the-sandboxThe Sandbox(SAND)$0.663.19%
  • decentralandDecentraland(MANA)$0.614.73%