Binance Staked Ether Experiences $573M in Inflows This Month

• Binance's staked ether token, BETH, saw a surge in deposits, increasing the total value locked (TVL) to $731 million.
• The TVL fluctuated between $120 million and $170 million until two large transactions brought in $165 million and $243 million.
• Liquid staking tokens are obtained by staking ether on platforms like Lido, Coinbase, or Binance, allowing users to earn a yield while retaining the asset.
• The four largest holders of BETH are Binance-controlled wallets, potentially mirroring user transactions on-chain.
• Despite regulatory uncertainty, one entity or trader seems to trust Binance, as indicated by the irregular inflows.
• Lido offers a higher annual percentage yield (APY) on staked ether compared to BETH.
• The reasons for staking on Binance instead of decentralized options like Lido are unclear.
• Binance did not respond to CoinDesk's request for comment.

The article provides information about the surge in deposits for Binance's staked ether token, BETH, and the increase in total value locked. It also mentions the uncertainty surrounding Binance and the higher APY offered by Lido. The sentiment is neutral, presenting facts without expressing a positive or negative opinion.