It's been a rough week in crypto. Every time you thought the SBF/Alameda scandal was over, he found another way to shock and infuriate. But I already spent last week's newsletter talking about that, so this week let's focus on DeFi rates instead. The most immediate impact of the chaos of the last week was a massive spike in ETH staking rates. Markets were panicked and gas was through the roof - both ingredients for a surge in MEV and staking rewards. The 7-day moving average yield on Lido's stETH is currently 8.4%. That's a full 3% higher than last week! And the moving average also obscures the extremity of this move. At times Lido's stETH yield was as high as 10%+.
Weekly Interest Rate Roundup: Nov 8 - Nov 15
Weekly Interest Rate Roundup: Nov 8 - Nov 15
Weekly Interest Rate Roundup: Nov 8 - Nov 15
It's been a rough week in crypto. Every time you thought the SBF/Alameda scandal was over, he found another way to shock and infuriate. But I already spent last week's newsletter talking about that, so this week let's focus on DeFi rates instead. The most immediate impact of the chaos of the last week was a massive spike in ETH staking rates. Markets were panicked and gas was through the roof - both ingredients for a surge in MEV and staking rewards. The 7-day moving average yield on Lido's stETH is currently 8.4%. That's a full 3% higher than last week! And the moving average also obscures the extremity of this move. At times Lido's stETH yield was as high as 10%+.