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News in a Glimpse:

  • Stani Kulechov, the Decentralized finance pioneer Stani Kulechov has no more interest for his Lido Finance investments where he is known to be a seen round investor. In which according to a report, the DeFi pioneer have already sold the last of his remaining Lido Finance tokens. Lido is known to be one of the largest Ethereum liquid staking platform, with $5.9 billion in staked assets.
  • Despite that  Stani Kulechov has no more interest for his Lido Finance investments where he is known to be a seen round investor. He have already sold the last of his remaining Lido Finance tokens. Lido is known to be one of the largest Ethereum liquid staking platform, with $5.9 billion in staked assets.

InvestorsObserver gave Lido DAO a bullish rating on Sunday. Lido DAO is a decentralized autonomous organization that decides on the crucial aspects of liquid staking protocols using the voting power of governance tokens, or LDO tokens. It reportedly increased by over 12% to $1.08 as the whole cryptocurrency market increased by 0.27%.

In addition, the InvestorsObserver Sentiment Score has given Lido DAO a bullish rating over the past couple of days. The aforementioned Sentiment Score served as a brief, short-term snapshot of the cryptocurrency’s recent success, measuring Lido DAO’s performance over the previous five days by volume and price change.

The aforementioned information was thought to be helpful for both long-term investors wanting to purchase the dip and short-term investors looking to ride a rally. Lido DAO is currently trading close to where it has been for the past five days as of the time of writing.

Furthermore, Lido DAO’s price is currently above resistance, which indicates that it might become volatile if the rally fizzles out. Support is located around $0.948885841196842, and resistance is set at $0.968253297632999.

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Lido DAO Overtakes MakerDAO and AAVE

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The liquid staking pool, Lido Financial, is expected to start reaping the rewards of the Ethereum merger in September 2022, placing its total locked value currently at the top of the list among other decentralized finance protocols.

According to data made public by the DeFiLlama, the relevant Lido’s liquid staking protocol presently controls $5.9 billion in total locked value, far more than some of its major rivals, MakerDAO’s $5.89 billion and AAVE’s $3.7 billion.

According to Lido’s Finance’s website, as of today, January 2, it had $5.8 billion ETH staked. SOL, Polygon, Polkadot, and Kusama were each staked with about $23.2 million, $43.9 million, $11 million, and $2.2 million respectively.

The Lido concept, according to the article, gives users access to liquid Ether staking without obligating them to the conventional 32 ETH minimum. On the other hand, after Ethereum switched to proof-of-stake in the last month of 2022, Nansen’s blockchain data analytics revealed a huge demand for staking solutions like this one.

The aforementioned blockchain data analytics from Nansen also highlighted the potential and anticipated effects of the major Merges in terms of introducing staked ETH as an outright cryptocurrency-native yield-bearing instrument that was seen to have quickly outpaced other collateralized yield-bearing services.

Since Lido transmits received ether to the staking protocol, its fee revenue was observed to have been directly proportional to Ethereum Proof-of-stake earnings in this situation. Lido revealed that since October 2022, they have been bringing in $1 million per day in fees back in November 2022.

The largest rival of Lido Dao, MakerDAO, on the other hand, had a fall in sales to little over $4 million in the third quarter of the previous year. According to Messari, the third quarter data represented an 86% decline from the second quarter. He then gave two causes for the observed decline: a dearth of liquidations and weak credit demand.

When compared to big cryptocurrency exchanges Coinbase and Kraken, which held 15% and 8.5% of staked ETH respectively, Lido was reported to have held the most amount of staked ETH among DeFi in the same month, with 31%, according to Nansen in September.

Aave Founder Dumps Lido Finance Holdings

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 Stani Kulechov, the Decentralized finance pioneer Stani Kulechov has no more interest for his Lido Finance investments where he is known to be a seen round investor. In which according to a report, the DeFi pioneer have already sold the last of his remaining Lido Finance tokens. Lido is known to be one of the largest Ethereum liquid staking platform, with $5.9 billion in staked assets.

Before the year ended, an Etheruem wallet reported that the DeFi pioneer had already sold 715,000 tokens left on his wallet. Aside from that the DeFi pioneer was also seen to have sold his 2 million LDO tokens allocated in December 2020.

A report has unveiled that Kulechov has made a total of eight sales of Lido tokens in 2022, somewhere during the market buttons. 

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