Tokens stats

Weekly Prices

Swaps Activities

Daily Prices

Introduction

stETH

• Staked ether (stETH) refers to a cryptocurrency token representing one unit of ether (ETH) that has been "staked" or deposited and locked up in support of Ethereum's upgraded network called the beacon chain. Staked ether functions somewhat like an IOU, in that stETH holders should be able to redeem staked ether tokens for an equivalent number of ether tokens following a waiting period. In this case, the waiting period will last until after Ethereum's new network standard, Ethereum 2.0, is adopted.(1)

rETH

• The base layer protocol for decentralized and trustless Ethereum 2.0 staking. Designed to support stakers of all shapes and sizes, Rocket Pool was built with the intent to allow anyone to trustlessly stake as little as 0.01 ETH to a network of decentralized node operators with full autonomy underpinned by RPL collateral (a type of bonding or insurance that ensures good behavior).(2)

aETH

• Stkr is a decentralized protocol and platform, built by Ankr, where users can stake any amount of ETH in Eth2 Micropools with zero slashing risk, and get instant liquidity with aETH. Liquid Staking provides instant access to Liquid Staking tokens that are equivalent in value to the stake in a 1:1 ratio.(3)

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In this dashboard, We will consider the liquid staking ETH derivates from ankr, rocketpool, and lido(aETH , rETH and stETH) and examine trends around the price volatility and swap activity for those tokens.

• 95.6% of swapping derivatives to other tokens volume are StETH token to other tokens.
• About $1.3B derivatives swapped to other tokens on the 2nd week of May 2022.
• We see major increse in swap volume after April 2022.

• 94.8% of swapping tokens to derivatives volume are StETH token to other tokens.
• About $1.1B Tokens wapped to derivative tokens on the 2nd week of May 2022.

• In May 2021, aETH pegging ratio decreased to 1:0.61.
• In mid-June 2022, ETH price dropped by 40% within a week and we can see a decrease in the pegging ratio in all those three derivatives.
• rETH has the best performance in terms of pegging ratio sustainability.
• The table shows the number of days that the pegging ratio was above 1. we can see that rETH with about 99% of days has the best performance. it also has average ratio of 0.99.

• StETH with more than 96% of tokens among those derivatives has highest amount of ETH liquid tokens.

• StETH price changes show slight difference with ETH price.

• aETH weekly price changes show that:
  • When ETH price increases, aETH price almost increase the same
  • When ETH price decreases, aETH price decrease more.

• When ETH prices increased, most of the time the rETH price showed more increase.

• ETH derivatives pools with WETH are the most popular pools in terms of transactions number.

• We can see major decrease in aETH swap transactions after June 2021.
• rETH swapping increased recently.

The above chart shows the swapping volume balance (Swap to Derivatives - Swap from derivatives). we can see that:

• From 18th April 2022 to 19th June 2022, ETH has lost about 62% of its USD value and during this time, the swapping volume balance hits its lowest balance.

Summary

• In mid-June 2022, ETH price dropped by 40% within a week and we can see a decrease in the pegging ratio in all those three derivatives.
• rETH had the best performance in terms of pegging ratio sustainability.
• The average pegging ratio:
  • stETH: 1:0.99
  • aETH: 1:0.93
  • rETH: 1.02
• StETH with more than 96% of tokens (4.29M) among those derivatives has the highest amount of ETH liquid tokens.
• ETH derivatives pools with WETH are the most popular pools in terms of transactions number.
• About $1.3B derivatives were swapped to other tokens and about $1.1B Tokens were swapped to derivative tokens in the 2nd week of May 2022.
• In May 2022, we saw the highest swapping volume, probably because of the volatile market condition.

Methodology

• Daily tokens prices were extracted from ethereum.core.fact_hourly_token_prices table by averaging hourly prices.
• Total tokens volumes were extracted from ethereum.core.ez_current_balances table.
• Weekly price changes were calculated by comparing the current price with the previous price (weekly average)
• Swapping information were extracted from ethereum.core.ez_dex_swaps table.

• aETH had lowest pegging ratio, but when ETH price increased, aETH usually showed more increase (%), and in ETH price decreasing, aETH usually showed less decrease (%).