Renzo’s ezETH depegs 18.3% following REZ tokenomics announcement on Binance | Headlines | News | CoinMarketCap
04/25/2024 03:37
Renzo's Ethereum-pegged asset ezETH depegged significantly within the past 24 hours, data from The Block show. ezETH dipped 18.3% to about $2,642 …
Renzo's Ethereum-pegged asset ezETH depegged significantly within the past 24 hours, data from The Block show.
ezETH dipped 18.3% to about $2,642 within the matter of minutes, with some crypto data trackers depicting ezETH fall to around $700. The token largely recovered since the depeg, but still dropped 5.6% within the past 24 hours to trade hands $3,077 at 12:40 p.m. ET.
Price performance of ezETH on April 24. Image: The Block Prices
ezETH is a liquid restaking token (LRT) from the liquid restaking protocol Renzo. Users earn ezETH by restaking ether or another liquid staking token on the platform. As such, ezETH is supposed to maintain equal worth with ether.
Ethereum was valued at $3,179 at 12:42 p.m. ET on April 24, The Block's Ethereum Price Page shows.
What happened
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