If you can’t tell your gwei from wei or wETH from ETH, you may end up making a costly error. eking0x helps you understand the Ethereum ecosystem:
But these tokens aren't necessarily tradable for ETH on a 1:1 basis prior to the Merge as their value is subject to natural market conditions, which we will get into next.Lido Finance’s stETH is the most popular token that represents staked ether deposits. Since its inception, stETH has traded as low as 0.92 per ETH and as high as 1.05 per ETH.
Despite trading at around 1 per ETH during much of late 2021 and early 2022, stETH fell to a larger discount in mid-2022 after big wallets like the one that belonged to hedge fundThe mass sell-off during the 2022 crypto crash pushed down the price of stETH in proportion to ETH, leading some commentators to suggest thatThis is also true for other tokens that represent staked ETH positions, such as BETH or aETHc.
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