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Celsius Company plans to retrieve its Ethereum (ETH) stash from the liquid staking platform, Lido. The stash, valued at $1,823, will be withdrawn in batches of 1K, totaling $784.7 million. Lido will burn st.ETH tokens while Celsius receives Ethereum. Currently, there are 141 withdrawal requests in the queue, totaling 442K st.
Celsius Network finds itself in a cold spot with $784 million worth of staked Ethereum locked in Lido's withdrawal queue. This situation highlights the complexities of staking and liquidity in the evolving landscape of cryptocurrency.
The bankrupt crypto lender wants its huge stash of staked Ether back, but it could be in for a wait.
In the fast-paced world of cryptocurrencies, Lido DAO (LDO) has made significant waves in the past week, experiencing an impressive surge of nearly 20%. Though the surge comes at a time the global crypto market is not deep in a downtrend, Lido's current rally can be attributed to two notable factors.
Celsius Network moved roughly 428,083.6 stETH — worth more than $800 million — to a wallet used for unstaking from Lido Finance on May 16, Arkham Intelligence data shows. The wallet address is: “0x4A87EcDfb459eb36d25226D9CCd7Ec4f684AB3Fc“ Lido launched its V2 update after the DAO voted to allow withdrawals on May 15.
Bankrupt crypto lending platform Celsius transferred 428,000 staked ether (stETH) worth $780 million on Monday, according to Etherscan data. The transfer corresponds with the introduction of a withdrawal feature by Lido Finance, the stETH provider, for the first time.
After the successful completion of its V2 update, liquid staking protocol Lido (LDO) expects big staked Ethereum (stETH) withdrawals from its customers this week.
Liquid staking protocol Lido (LDO) anticipates its users making large staked Ethereum (stETH) withdrawals this week following the successful completion of its V2 upgrade. Withdrawal request spikes According to 21Shares researcher Tom Wan, Lido users have started increasing their withdrawal requests following the successful test of the feature.
The Lido DAO (LDO) price could accelerate its increase if it breaks out from the current wedge.
Lido DAO, the Ethereum-dependent Liquid Staking Derivatives (LSD) platform, is spearheading the altcoin surge today with a significant increase. As the indigenous token of the platform, it has demonstrated considerable value to Ethereum stakers even before the Shapella Upgrade, leading to its recent notable price performance.
LDO price is well-positioned to gain another 50% by June based on a classic bullish reversal setup after Lido DAO rebounds 40%.
After a disastrous week, the digital currency market , including the top 5 cryptos, is ready for a recovery. According to CoinGecko, the crypto market's total market cap increased by nearly 2% in the past 24 hours.
Celsius is among the largest potential stETH withdrawers.
The Lido liquid staking protocol has initiated Ether (ETH) withdrawals. According to reports from Parsec Finance on May 15, within the initial three hours, over 260 Lido Staked Ether (stETH) units were exchanged for their equivalent Ether, amounting to an estimated $500,000.
Celsius, a leading cryptocurrency platform known for its innovative solutions, has once again made headlines with a groundbreaking transaction worth an astonishing $781 million in Steth (Staked Ethereum). This remarkable feat coincides with the introduction of withdrawals on the Lido protocol, marking a significant milestone for both Celsius and Lido in the evolving cryptocurrency ecosystem.
Crypto lender Celsius has swiftly moved its Ethereum staking tokens from the liquid staking platform Lido, following the platform's recent introduction of withdrawal capabilities.
Celsius, an insolvent cryptocurrency lending platform, has transferred over 400,000 staked ether (stETH), worth over $700 million.
Ethereum-based Liquid Staking Derivatives (LSD) platform Lido DAO (LDO) is leading the altcoin momentum today following its 8% growth to $2.10. The digital currency, known as the native token of the platform that has come through for Ethereum stakers long before the Shapella Upgrade, has been seeing impressive price action lately.
As Lido launched its V2 deployment, it introduced ETH withdrawals for previously-staked ETH coins and Staking Router.
It is worth mentioning that Daex (DAX) is a decentralized exchange that allows users to trade cryptocurrencies and tokens. The platform, in particular, offers a wide range of features, including margin trading and customer support.
Conflux is today's top performer from the top 100 coins, with a notable double-digit surge.
Crypto lender Celsius reportedly transferred 428,015 st.ETH(staked Ether) to Lido's Ethereum wallet after enabling withdrawals, with the possibility of $781 million being transferred for withdrawal. On-Chain data shows that Celsius tested a withdrawal of 0.1 st.ETH. Bitcoin Pioneer ‘Simon Dixon' has suggested Celsius may stake without Lido and use it for loan collateral.
In a swift move, embattled crypto lender Celsius is actively transferring its Ethereum staking tokens away from Lido, a liquid staking platform that recently enabled withdrawals. On May 15, an intriguing transaction unfolded as the Crypto lender platform actively received a staggering 428k stETH, transferring it to the Lido staking wallet.
The largest Ethereum staking protocol Lido enabled staked Ethereum withdrawals as the Lido V2 upgrade officially went live on the Ethereum mainnet late Monday. Lido V2 upgrade primarily improves the Ethereum staking experience while increasing decentralization and unstake stETH to withdraw Ethereum (ETH) at a 1:1 ratio.
