In response to the recent unstaking of 620,000 ETH, Aave's borrowing rates have surged, forcing leveraged players to redeem stETH and leading to extended withdrawal times for Lido's stETH.
Following the recent unstaking of 620,000 ETH, Aave's ETH borrowing APR has surged to 10%, impacting leveraged players who are now compelled to redeem stETH to de-leverage. The waiting period for Lido's stETH withdrawals has increased to 21 days, with stETH trading at a discount of nearly 0.4% to ETH.