😬 $LDO - Lido Finance Officially Competes with EigenLayer 🔥
Lido Finance has just launched "DeFi Strategies" for stETH holders, focused on expanding the "Restaking" sector on Ethereum. This program involves collaboration with Mellow Finance and Symbiotic to support stakers.
Notably, Symbiotic is a Restaking project invested in by Paradigm (Tier 1), Cyber Fund (Tier 4), and two co-founders of Lido Finance. After EigenLayer's dominance in Restaking space, this move by Lido Finance could indicate a new competition for market share in the Restaking
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After the news was released, iCrypto observed:
- Smart Dex Traders are strongly buying LDO with a Net Flow of +$734.6K
- Whales have also withdrawn large amounts of LDO CEX platforms.
The positive storage behavior of Smart Dex Traders and Whales could signify a new opportunity for #DeFi and #ReStaking related to $stETH, in which LDO play important role. 📌
➡️ These actions may be noteworthy going forward, as investors seek to leverage and optimize their stETH assets within the DeFi ecosystem.
