Lido Staked Ether Decreases More Than 6% Within 24 hours
Portfolio Pulse from Benzinga Insights
Lido Staked Ether (STETH) has seen a significant decrease of 6.86% in the last 24 hours, bringing its price to $3,253.71. This drop is part of a larger negative trend over the past week, with a total loss of 19.0% from its previous price of $3,989.86. Despite the price decrease, trading volume for STETH has surged by 297.0%, while its circulating supply has slightly decreased by 0.5% to 9.78 million. Currently, STETH's market cap ranks it as the 7th largest, valued at $31.87 billion.
March 19, 2024 | 3:02 pm
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Lido Staked Ether (STETH) has experienced a significant price decrease of 6.86% in the last 24 hours, contributing to a 19% loss over the past week. The trading volume has increased by 297%, indicating heightened activity despite the price drop. The circulating supply has slightly decreased by 0.5%.
The significant price decrease of STETHUSD over the past week, coupled with a substantial increase in trading volume, suggests a negative short-term impact on its price. The increased trading volume amidst a price decrease typically indicates selling pressure, which could further drive the price down in the short term. The slight decrease in circulating supply might not be sufficient to counteract the negative price trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100