Amid Ethereum price Slump, Three Arrows Dumps Millions of stETH - Coinpedia - Fintech & Cryptocurreny News Media - BitcoinEthereumNews.com
EthereumAmid Ethereum price Slump, Three Arrows Dumps Millions of stETH – Coinpedia – Fintech & Cryptocurreny News Media06 / 14 / 2022बिटकॉइन एथेरियम समाचार The price of Ethereum (ETH) has dropped about 33 percent in the previous seven days, and it is currently trading at $1,239. On the morning of June 13, the cryptocurrency market became even more panicked as the Celsius lending platform halted deposits, withdrawals, and transactions due to a lack of liquidity to meet customer needs. Since then, the price of ETH has plummeted, and it now has the lowest value since January 2021. Fears over the token are triggering panic selling of ETH and other cryptocurrencies. Worse, its use as collateral by key crypto lending platforms is threatening to liquidate billions of dollars worth of assets. Three Arrows throws a reverse card Three Arrows, a venture capital firm, swapped $33 million worth of Lido Staked Ethereum (stETH) for Ethereum on the DeFi platform Curve on Tuesday. The move comes as stETH values in secondary marketplaces diverge further from ETH pricing, putting pressure on traders using the DeFi token as collateral. Since last week, Three Arrows is the second large holder of stETH to dump the coin. Last Monday, crypto trader Alameda