Introuction

Ethereum is one of the most widely used blockchain networks in the world of cryptocurrencies. Its native token is ether or ETH, which is used in many fields. This token can be staked in many ecosystems. One of these famous ecosystems is "Lido". When a user stakes a certain amount of ETH tokens in this ecosystem, the same amount is given to that user with the stETH token. But what the price of these two tokens has been relative to each other since the launch of stETH is a question that I intend to review and answer from different angles in this dashboard.

Method

In this dashboard, the following methods have been used to check the price status of these two tokens:

1. Compare the price of both tokens hourly from the time the stETH token was released and the data available.
2. Compare the price difference of both tokens hour by hour to better display the price difference.
3. Count the number of hours that each of these tokens has a higher price.
4. Calculate the average daily price of each of these tokens and perform the above three steps accordingly

What is quite clear in the first diagram is that the prices of these two tokens have always been very close to each other, so that nowhere in the first diagram are the prices of these two tokens clearly different from each other. In the second chart, which shows the price difference between these two tokens more precisely, there are interesting points that were not visible in the first chart. Here it turns out that in a few hours, the price difference between the two has reached $ 300, but it is quite clear that this huge price difference has not lasted. From this second chart, it can also be seen that most of the differences between the prices of these two tokens have been in the range below $ 50. From the appearance of the second graph, it is quite clear that the number of hours that the price of the ETH token was higher is much higher than the number of hours that the price of the stETH token was higher. To evaluate this issue more closely, it was also evaluated how many hours had which tokens were more expensive or equal?

This second evaluation also shows that ETH tokens were more expensive in 88% of the hours. The interesting point is that the price of these two tokens has not been equal in any of these 466 days(11168 hours)!

Averages

The average daily prices were also evaluated to get a more overal view of what was going on between the prices of these two tokens, and many of these sharp increases and decreases in the average daily price of each token disappear.

The trend of the first chart of this section is the same as the first chart of the previous section. The differences are not so obvious even in the daily price and the price of two tokens is quite close here. The interesting thing about this evaluation is that it shows itself in the second chart, where the daily price difference of each of these tokens no longer exceeds even $ 80. Here, too, it can be clearly seen that the price of ETH tokens has been higher almost most days. But for a more detailed review, the second evaluation of the first part was done again:

Here, as in the previous section, in a large number of days (about 91%) the price of the ETH token was higher than the stETH token, which is fully consistent with all the results obtained so far.

Conclusion

• Both tokens have close prices and the trend of increasing and decreasing their price has been very similar.

• The price of both tokens has had a overal upward trend since the introduction of stETH until November 15, 2021. But since then, until January 24, there has been a free fall in the price of both tokens.The price of these tokens reached its lowest level in almost 6 months before that. But again, the overal upward trend in the price of both tokens has taken place and has continued to this day.

• In 90% of the hours and days, the price of the ETH token was higher than the price of the stETH token.

• The price difference between these two tokens was very large in some hours, but in overal it was in the range below $50.