Renzo Protocol's restaked Ether token (EZETH) experienced a brief price depeg, dropping to a low of $688 on Uniswap before regaining parity with Ether (ETH). The depegging was likely due to a wider sell-off following the end of Renzo Protocol's season 1 airdrop. This incident led to mass liquidations on leveraged protocols like Gearbox and Morpho Labs. Renzo Protocol, the second-largest liquid restaking protocol, has seen increased interest after its incoming token (REZ) was added to the Binance launch pool. A crypto trader made a profit of over $396,000 in just two hours after the depegging incident.