September ETH Treasury Yield Lower Than Staking
Original headline스테이킹보다 낮았던 9월 ETH 금고 수익률
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September marked a period where ETH-based DeFi vaults underperformed standard staking yields, while dollar-denominated asset strategies consistently outpaced US Treasury rates for the third consecutive month. Glassnode’s October 30 report revealed that total vault deposits surged by approximately 15% month-over-month to reach $9.8 billion, marking the highest TVL level since November 2025. The data highlights a critical divergence in yield generation, as ETH vaults failed to beat the baseline return of native staking rewards despite increased capital inflows. In contrast, stablecoin and dollar-pegged strategies maintained a competitive edge against traditional risk-free benchmarks, suggesting a structural shift in capital allocation toward fiat-pegged yield opportunities. Market participants should monitor whether this preference for dollar-denominated strategies persists, as it may indicate a broader rotation away from ETH-centric yield farming toward more conservative, fiat-anchored DeFi products.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
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Ethereum (ETH), Glassnode
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