Smart Money After Merge Pumps in $33 Million Into Staked ETH Tokens

Following the case scenario of being de-pegged from Esther nearly six months back, Lido’s staked ETH token is right back in the race, and how. Prospective investors have ensured a secure scene by cumulatively pumping in a staggering amount of $33 million, thus enabling it to reach the heights and reach the level of Esther, the second largest cryptocurrency, all over again.  

According to expert opinion from Nansen, which happens to be a crypto data analytics platform, within only a brief period of seven days, during the previous week itself, active investors have concentrated their mass funding on both the staked ETH token and the astETH, which is Aave’s yield-bearing token. 

In the case of Lido and all other similar competitors engaged in the activities of liquid stacking, they were undoubtedly depending greatly on the merger and its resultant consequential factor and anxiously awaiting the outcome. Due to a very favorable turn of events after that, Lido was once again seen on top of things linked to the overall blockchain ecosystem. 

Considering all the circumstances and sequence of events that played out, there has been a noticeable hike in Lido’s APR, reaching a 5% high, compared to the previous 4%, ever since the merge.