stETH Withdrawals from Lido Drive Figment’s Market Share Growth

Analyst Ben Lilly points out the ongoing withdrawal of stETH from Lido, highlighting its impact on market dynamics. Another lending platform, Figment, is capitalizing on this shift by attracting users seeking staking opportunities. This potential partnership with ETFs has raised concerns about decoupling risks for stETH-based collateral in lending protocols. The potential for liquidation due to such decoupling remains a significant factor to watch.