Introduction:

stETH is the tokenized form of staked Ether native to Lido. Lido is a liquid staking solution for Ethereum backed by several industry-leading staking providers. It makes staked ETH liquid and allows participation with any amount of ETH to obtain reward by holding stETH token.

The process of obtaining stETH is 1:1 by staking ETH on LIDO. This means that, when you stake 1 ETH on LIDO you get 1 stETH.

The price analysis of stETH and ETH tokens is executed in this bounty.

After that observe the difference among them and try to find the events that could triggered this price difference.

Methodology:

The price of each assets is obtained from the tables that mentioned below:

• stETH--> from ethereum.core.fact_hourly_token_prices--> Symbol='stETH'
• ETH--> from flipside_prod_db.ethereum.erc20_balances--> CONTRACT_ADDRESS='ETH'
• Price percentage--> STETH_price/ETH_price --> volatile from 1
• Time frame--> For the past year

The price of ETH and stETH is shown in this figure. The next chart illustrates the stETH/ETH over time which is used on CoinMarketCap. This metrics wants to show how close are the price of ETH and stETH together.

Finally the top 10 days that price of ETH and stETH had biggest differences are shown in the bar chart.

According to the mentioned events and based on the figures, it can be seen that the price of stETH and ETH has large differences on September and August 2021. The main reasons of that mentioned in the events part.

we could see that the price of stETH was bigger than ETH on August and September 2021 most of the times.

Events:

Some relevant events that could triggered the price difference are listed as below:

1. Staking Giant Lido Expands to Solana--> September 2021
2. Ethereum 2.0 Staking Tops $21 Billion--> August 2021
3. Providing collateral by stETH of ETH stakers on Anchor protocol of Terra blockchain--> September 2021.