The price gap between the locked-up ether on Lido and spot ether jumped to record highs as large holders sell their holdings, drawing concerns of potential ripple effect on crypto lending markets, krisztian_sandor reports.
that such a concentration of deposits “can theoretically increase systemic risk” because of Lido’s interconnections to crypto markets.
“What Celsius can do is sell its stETH in order to buy ETH on the market to satisfy client requests,” Noelle Acheson, head of market insights at crypto market maker Genesis, told CoinDesk. last month, when crypto markets were roiled by the collapse of the Terra blockchain network and its stablecoin UST.
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