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😬 $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- Whales have also withdrawn large amounts of LDO CEX platforms.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.
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📌 $LDO currently ranked 3rd on the Gem of Smart DEX Traders leaderboard with an entry price of $2.4/$2.41, behind $LINK and $TAO.
➡️ Guys could take a look, #LSD is still something worth paying attention to after the news of the $ETH ETF.
Currently, all 4 labels show signs of increasing LDO balance. The Smart DEX Traders also have some notable volume accumulation spikes in the past 3 days. Two smart wallet addresses:
- Blue Chip NFT Holder 0x006ff with a 57.41% win rate, has bought $300K of LDO in the last 24 hours, with a total hold of $375K. They have already made a 2x profit with ONDO and some meme tokens like $DOG and $BITCOIN.
- Another Blue Chip NFT Holder 0x71cb with an 80% win rate has also accumulated $271.41K of in the past 7 days, with a total hold of $384K. They are a meme trader with $WOJAK, $BOBO and $BITCOIN, but have recently shifted their focus to $LDO.
The price of LDO has been increasing by 50% in the last 14 days, and the outflow of Whale has followed this price increase.
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The market seems a bit quiet today, which token should we pay attention to, our buddies? 😊 $PENDLE
#DataFi #iCrypto #LidoDAO