NFT News Today Official TheBitTimes.com

The bankrupt crypto lender wants its huge stash of staked Ether back, but it could be in for a wait. Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (ETH) stash back from liquid staking platform Lido which enabled withdrawal s this week. Celsius initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. According to transaction data it has requested the withdrawal of 428,840 stETH in batches of 1,000. The stash is valued at approximately $784.7 million at current prices. The move follows a transaction of a similar amount of stETH on May 15 in preparation for withdrawal . Once the withdrawal process is complete, Celsius will receive the equivalent in Ethereum and the stETH tokens will be burnt by Lido. According to Dune Analytics, the cumulative amount of stETH in the withdrawal queue is 442,000 from 141 requests. It is valued at around $808 million though Celsius is responsible for the majority of it. The total amount already processe...

Lido Finance had to activate its safety feature "Staking Rate Limit" after over 150,000 ETH was staked in a single day. Liquid staking protocol Lido Finance has pushed the big red button in order to activate a protocol safety feature called " Staking Rate Limit" after more than 150,000 Ether was stake d with the protocol in a single day. Lido is a liquid staking solution for digital assets, in this case allowing users to stake Ether (ETH) without them needing to have their tokens locked. When a user deposits Ether, Lido issues them a liquid variant of ETH, known as staked ETH (stETH), giving users staking rewards for each day the tokens are held in their wallets. Lido protocol has registered its largest daily stake inflow so far with over 150,000 ETH staked. Upon reaching this number, a curious (but important) protocol safety feature called Staking Rate Limit was activated. Here’s how it works pic.twitter.com/ngBtWz7q18 — Lido (@LidoFinance) February 25, 2023 ...