What can stETH be used for?

Might I inquire, what exactly is the purpose and utility of stETH? As a crypto-savvy individual, I'm intrigued by this particular token and its potential applications in the broader ecosystem of finance and cryptocurrency. Could you please elaborate on its functionalities, potential use cases, and how it might fit into the larger puzzle of decentralized finance? I'm eager to understand its role in enabling new forms of value exchange and financial transactions within the cryptosphere.