$500K in stETH is redeemed and withdrawn in three hours as Lido upgrades to V2.
New Cosmos chain will use liquid staking coins for security
Data from Parsec shows that it took about an hour for stakers to realize that they could withdraw. The first hour of withdrawals produced around 4 ETH worth of redemptions of stETH. But the following hour, redemptions swelled to approximately 227 ETH . The pace of redemptions fell the following hour to around 44 ETH . Over $500,000 worth of ETH was withdrawn in the first three hours of withdrawals being enabled.Liquid staking solutions have gained in popularity since the Shapella upgrade.
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