📝 Introduction

Lido Finance

To staking in the Ethereum network, users need at least 32 ETH, while the cost of buying this amount of ETH is very high. To solve this problem, some platforms emerged that allow users to participate in Ethereum 2.0 staking with any amount. One of the best platforms for this is Lido.

Lido is an easy-to-use decentralized platform that provides staking services to users. Initially, this platform was used for Ethereum 2.0 staking, but now Lido has expanded to support networks such as Ethereum, Solana, Polygon, Polkadot and Kusama.

Rocket Pool

Rocket Pool protocol allows anyone to earn rewards on deposits as low as 0.01 ETH. When users trade ETH, they will receive rETH, a token that gains staking rewards over time based on the performance of all decentralised node operators in the protocol.

ANKR

Ankr is a staking-based platform and calls itself StakeFi. The Ankr platform was created with the aim of making easy access to ways to earn money in the crypto market for everyone. Ankr platform is trying to make the use of blockchain and its capabilities simple and cheap for users by creating a cloud space.

Reference:

📃 Purposes of dashboard

• In this dashboard, the status of the ETH derivatives is checked. In the first step, the ETH derivatives price performance is evaluated in the daily time frame.

  In the next step, the status of Ethereum derivative swaps activity in the monthly time frame is checked.

• The ETH derivatives evaluated in this dashboard are:

  1️⃣ Rocket Pool ETH (rETH)

  2️⃣ Lido Staked ETH (stETH)

  3️⃣ Ankr Reward Bearing Staked ETH (aETHc)

✍🏻 Methodology

• Table ethereum.core.fact_hourly_token_prices is used to extract price data in this dashboard.
• Table ethereum.core.ez_dex_swaps is used to extract swap data in this dashboard.
• ETH derivative contracts are:
  • '0xe95a203b1a91a908f9b9ce46459d101078c2c3cb' → aETHc
  • '0xae78736cd615f374d3085123a210448e74fc6393' → rETH
  • '0xae7ab96520de3a18e5e111b5eaab095312d7fe84' → stETH

The data is updated daily.

💡 Conclusion

In this dashboard, the performance of ETH derivatives was analyzed in terms of price and volume and number of swaps. If we rank ETH derivatives based on two price indices and swap amount, the following results are obtained:

🟡 Price Performance

🥇🏆 Rocket Pool ETH (rETH)

🥈 Lido Staked ETH (stETH)

🥉 Ankr Reward Bearing Staked ETH (aETHc)

🟡 Swap activity

🥇🏆 Lido Staked ETH (stETH)

🥈 Rocket Pool ETH (rETH)

🥉 Ankr Reward Bearing Staked ETH (aETHc)

Analyst: Emanoel

***Twitter: ***

Discord: Eman#9698

Special thanks to the Flipsidecrypto 🧡

Correlation(ETH,aETHc)=0.992

Correlation(ETH,rETH)=0.999

Correlation(ETH,stETH)=0.999

👀 Observation (Price performance)

• Among ETH derivatives, in terms of price, rETH has shown the best performance. In other words, the price of rETH has been higher than the price of ETH on almost all days. Only on June 16, 2022 rETH was $2 lower than ETH. On average, the price of rETH was 45 USD higher than the price of ETH per day. But aETHc has had the worst price trend compared to ETH price. Since 2020, in only 16 days has aETHc been able to record a price higher than that of ETH. (Since October 7, 2021, the price of aETHc has always been lower than the price of ETH.)

• On average, the daily price of aETHc was 169 USD lower than the price of ETH.

• In the aETHc price chart, two sharp price drops compared to the ETH price can be seen. (May 11 and 16, 2021)

• The price of stETH has been lower than the price of ETH in most cases. On average, the price of stETH was about 21 USD lower than the price of ETH.

• Among ETH derivatives, stETH recorded the highest ATH.

• Among ETH derivatives, aETHc has recorded the largest price difference with ETH. The price of aETHc was 1440 USD lower than the price of ETH on May 16, 2021.

• The correlation between the price of ETH derivatives and the price of ETH is very strong and positive. Only the correlation between aETHc and ETH is slightly lower than other derivatives.

👀 Observation (Swap activity)

• stETH ranks first among other ETH derivatives in terms of swap volume, number of unique buyers and sellers, and number of swaps.
• In terms of swaping volume and the number of unique buyers and sellers, rETH ranks second and aETHc ranks third, but it is the opposite in terms of the number of swaps.
• The largest volume of buying and selling of ETH derivatives:
  • stETH → June, 2022
  • rETH → March, 2022
  • aETHc → December, 2020
• The largest number of buyers and sellers of ETH derivatives:
  • stETH
    • Purchaser → June, 2022
    • Seller → May, 2022
  • rETH → August, 2022
  • aETHc
    • Purchaser → December, 2020
    • Seller → February, 2021
• The highest number of buying and selling of ETH derivatives:
  • stETH
    • Purchaser → June, 2022
    • Seller → May, 2022
  • rETH → August, 2022
  • aETHc → February, 2021