According to BlockBeats, on August 15, @ai_9684xtpa monitored that since August this year, Lido Ethereum staking has experienced net outflows for 12 consecutive days, with a total outflow of 74,304 ETH, worth about $194 million. In particular, on August 12, the single-day net outflow was as high as 31,104 ETH, accounting for 42% of the total outflow in 12 days. Although the data on August 13 and 14 showed a slight recovery, the overall market sentiment is still cautious.
Large-scale redemptions usually mean that investors are willing to give up staking income in pursuit of higher returns or to avoid risks. In the context of the decline of the re-staking craze and the sluggish market, recent redemptions are more inclined to risk aversion.
Since August, Jump Trading has redeemed 62,609 ETH worth US$177 million from Lido and transferred more than US$400 million of ETH to Coinbase, causing the ETH price to hit the biggest drop since 2021 on August 5; as an ETH bull, Justin Sun redeemed 13,691.5 ETH worth US$31.76 million on August 5, the day the market crashed.
