A look at the state of stETH as it gains new followers

revealed that stETH’s popularity has been on an increasing trend since the Shanghai update. As per the tweet, Lido’s stETH maintains an impressive dominance, with DeFi capital flows suggesting it has become a preferred collateral asset. The total number of new addresses holding stETH has risen sharply over the last few months, which looked optimistic.

Santiment’s chart revealed that stETH’s supply on exchanges plummeted over the last month. While this happened, its supply outside of exchanges went up, which was an optimistic update. Additionally, its total number of holders also rose, further proving its increasing popularity among investors.Amidst all this, Ethereum was enjoying a comfortable bull rally. However, the token’s uptrend ended as its price declined slightly in the last 24 hours.

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