Two days of inflows fueled a more than fourfold increase in Binance staked ether's total value locked.
shows that the four largest holders of BETH are all Binance-controlled wallets, which may be Binance mirroring its users' transactions on-chain.
Whilst BETH remains relatively small in terms of TVL compared with the likes of Lido staked ether, with $14 billion, and Coinbase's $2 billion, the irregular inflows suggest that one entity or trader is putting its faith in Binance despiteLido currently offers a 3.6% APY on staked ether, significantly more than BETH's 3.25%. The incentive to stake on Binance as opposed to a decentralized offering like Lido remains unclear.
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