Binance Staked Ethereum BETH Sees $573 Million Inflow This Month
According to DefiLlama data, deposits into Binance's staked ethereum BETH surged earlier this month, with total value locked (TVL) increasing more than fourfold to $731 million. Binance launched the liquid staking token in April following Ethereum's transition to a proof-of-stake network. TVL fluctuated between $120 million and $170 million until September 1st when two transactions brought in $165 million, followed by a single $243 million transaction two weeks later.
According to DefiLlama data, deposits into Binance's staked ethereum BETH surged earlier this month, with total value locked (TVL) increasing more than fourfold to $731 million.
Binance launched the liquid staking token in April following Ethereum's transition to a proof-of-stake network. TVL fluctuated between $120 million and $170 million until September 1st when two transactions brought in $165 million, followed by a single $243 million transaction two weeks later. Apart from these two transactions, daily inflows have not exceeded $500,000.