• The staked ETH pool on Curve has witnessed a significant downtrend.
• ETH staking continued to see new entrants.

Kaiko’s report on 9 August highlighted a diminishing liquidity trend within one of Curve Finance’s [CRV] pools. The stETH-ETH pool, as indicated by the report, experienced a substantial outflow, resulting in decreased liquidity.

The $steth-ETH liquidity pool on Curve continues to see large outflows, reducing liquidity for the largest liquid staking token. pic.twitter.com/RDhNpq6vNt

— Kaiko (@KaikoData) August 9, 2023

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Notably, Curve Finance has been among the platforms benefiting from the increased utilization of staked ETH [stETH] following Ethereum’s [ETH] transition to Proof of Stake (PoS) and the subsequent activation of staking capabilities.

Curve stETH trading volume and TVL declines

In addition to the reduction in stETH liquidity, there have been declines in trading volume and Total Value Locked (TVL) within the ETH-stETH pool over the past few months.

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Author: Adewale Olarinde

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