Viewpoint: stETH has Depegging Risk, Potentially Triggering Liquidation in Lending Protocols

BlockBeats News, August 15th, Jlabs Digital analyst Ben Lilly pointed out that current stETH is being withdrawn from Lido. Another lending protocol, Figment, is absorbing Lido's market share, suggesting that Figment may be an ETF pledging partner. 32% of stETH (wstETH) is being used as collateral for the lending protocol, and the decoupling may indicate the liquidation of 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).