Opinion: stETH Faces Depegging Risk, Potentially Triggering Liquidation Across Lending Protocols

BlockBeats News, August 15th, Jlabs Digital analyst Ben Lilly pointed out that currently stETH is being redeemed from Lido. Meanwhile, another lending protocol, Figment, is capturing Lido's market share, indicating that Figment may be the ETF's staking partner. 32% of stETH (wstETH) is being used as collateral for the lending protocol, and the decoupling may signal a liquidation event for the lending protocol.

It is worth noting that currently, 278,000 wstETH is in a "high-risk" state (high-risk defined as a health factor between 1-1.1 times).