Discover and read the best of Twitter Threads about #frxeth

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$FXS saw a nearly 18% surge at one point in the past 24h following the expectation about its upcoming liquid staking protocol and $frxETH release.

What's in store for @fraxfinance and what the future holds: A 🧵

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1/ On its way to becoming a "decentralized central bank," @fraxfinance has shipped new innovations to the #crypto-verse.

And $frxETH, a liquid $ETH staking derivative to maximize staking yield and smoothen the @Ethereum staking process, is the latest one to come to life.
2/ $frxETH acts as an $ETH-pegged #stablecoin, but the peg will be "soft" at first and become "tight" after Shanghai withdrawals, according to @samkazemian:

As frxETH can be exchanged 1:1 with ETH, the amount of frxETH in circulation must be equal to the
Read 21 tweets
As a brief spell of excitement after the CPI release faded, $BTC began the week with a small rise.

This was accompanied by a rally in #stocks and a -9.1 Empire State Manufacturing Index, indicating weaker U.S. economic data.

In @COIN360com Daily Digest:
2/ $BTC marked a 2% increase in the past 24h to drive the price above $19,500 after a quiet weekend.

This came after #BTC investment products saw a total $8.8M inflow last week, implying a net neutral sentiment amongst investors as per @coinsharesco: blog.coinshares.com/volume-102-dig…
Read 18 tweets

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