Tron Founder @justinsuntron makes big moves in the #crypto world:

💸 Withdrew $56M worth of $ETH ($30K) from #LIDO

💼 Still holds 263,294 ETH ( $491.6M) staked!

Let's dive into Justin Sun's impressive journey:

✅ Staked 288,100 ETH ($538M) from Feb 25-27.

💰 Earned 5,194 ETH ( $9M) in total.

⏰ Daily earnings of 38 #ETH ( $72K)!

📈 APY ~4.87%!

Explore the details:

🔗 [Wallet Address 1]

( https://etherscan.io/address/0x611f97d450042418e7338cbdd19202711563df01#internaltx )

🔗 [Wallet Address 2]

( https://etherscan.io/address/0x176f3dab24a159341c0509bb36b833e7fdd0a132#internaltx )

Stay tuned for more on Justin Sun's crypto ventures!

#Ethereum #Cryptocurrency

$BTC $LDO

The past 24 hours saw another dip from bitcoin that drove it south to its lowest price position in a week, but the asset managed to erase those losses in the following hours.

The altcoins are slightly in the green on a daily scale now, as ETH has neared $1,900, while ADA and XRP are up by 2-3%.

BTC Uncertain at $27K

Ever since it tapped a two-week high at $28,500 this week, bitcoin’s performance has been quite underwhelming. The cryptocurrency first retraced to $28,000 in a day or so before it plummeted by another grand on Wednesday.

After an unsuccessful attempt to overcome $27,500, the asset started losing value fast once again on Thursday and dropped to $26,600. Another multi-day low came in the past 24 hours when it slipped to $26,500 (on Bitstamp).

However, the bulls managed to intercept this move and pushed bitcoin north by over $500. As such, BTC now trades above $27,000, and its market cap has risen to $525 billion.

Its dominance over the altcoins, though, has taken another hit and is down to 46% after exceeding 46.5% last week.

FIL, LDO, APT Jump High

Most altcoins also fell during the working week but have turned green on a daily scale now. Ethereum went down to $1,850 yesterday, but a 2% increase since then has pushed the second-largest crypto to almost $1,900 as of now.

Binance Coin dipped beneath $305 but stands above it now after a 1% pump. Ripple, Cardano, Dogecoin, Polygon, Solana, Litecoin, Tron, Polkadot, and Avalanche are also in the green from the larger-cap alts, in some cases by up to 3%.

More impressive gains come from the likes of Filecoin, Lido Dao, Aptos, and Arbitrum. All of the above have increased by somewhere between 5-8% on a daily scale.

As such, the cumulative market cap of all crypto assets has recovered around $20 billion from the recent losses and is up to $1.140 trillion now.

#FIL #APT #LIDO #crypto2023

Onchain and financial metrics platform Glassnode have recently shared data regarding the deposit nature of staking providers. In a recent tweet, Glassnode shared data showing interest metrics depicting the ups and downs of the deposits over time.

Deposit trends by staking providers have exhibited a clear shift over time with Kraken, Binance and Coinbase jousting for deposit allocations across the Beacon Chain's early days. As the dust settled between the three giants, it was Lido who emerged victorious, continuing to… pic.twitter.com/yp50NWQ5XJ

— glassnode (@glassnode) April 9, 2023

Glassnode mentioned in the tweet that there has been a noticeable change in deposit trends among staking providers over time, with Kraken, Binance, and Coinbase competing for deposit allocations during the early days of the Beacon Chain.

According to the details from the chart, Lido is now dominating in terms of deposit inflows at present. Lido has been on a skyrocketing journey, as its total value locked at press time stands at $11.2 billion, according to DefiLlama.

Data from Lido.fi reveals that there are over 294,606 stakers at the moment. Ethereum dominates the Lido staking with over $11 billion staked. Following it are Polygon, with $97 million, and Solana, with $55 million in staked assets.

As of March 2, 2023, the total value locked was $9.48 billion. The rise in value locked can be attributed to several factors, including a 0.66% increase in the price of Ether against the U.S. dollar. This rise has contributed to the growing value of Lido’s staked ether (stETH).

The protocol experienced a noteworthy influx of funds last month, and on-chain data indicates that Tron founder Justin Sun deposited at least 303,000 Ether into Lido.

The interesting data also comes at a time when cryptocurrency staking is facing backlash in the US after Kraken was sued by the SEC in February. Binance is also having its fair share of trouble with the regulators.

#Binance #LIDO #crypto2023 #cryptotrading #crypto101

The world of Ethereum staking has been on a remarkable journey, with consistent growth in participation since its inception. One player that has stood out in this landscape is Lido, but as its dominance expands, concerns about the centralization of the Ethereum network have emerged. In this blog post, we will delve into the rising popularity of Ethereum staking, Lido's substantial share of the staking market, and the potential implications of its dominance on the Ethereum ecosystem.

Ethereum Staking on the Rise

Ethereum's staking chart reveals an impressive milestone - over 28 million ETH staked. We'll explore how this upward trend became evident around April and what it means for the Ethereum network.

A Significant Percentage

Data from Dune Analytics shows that the total ETH staked accounts for approximately 22% of the total ETH in circulation. This sub-title discusses the significance of this figure and its implications.

Lido's Dominance

The real intrigue lies in Lido's dominance. According to Dune Analytics, Lido commands a staggering 32.4% of the total ETH staked, surpassing any competing platform by a considerable margin. We'll dive into the reasons behind Lido's success.

Concerns About Centralization

With Lido's increasing dominance, concerns have emerged about Ethereum being perceived as a centralized platform. We'll explore the viewpoints of experts like Ryan Berckmans and discuss the potential consequences of such centralization on Ethereum's reputation.

Impact on Ethereum's Aspirations

Centralization could undermine Ethereum's goal of becoming a globally recognized settlement layer within the financial system. This sub-title discusses how this perception might affect Ethereum's popularity, especially in the context of its decentralized applications (dApps).

LDO's Market Performance

Shifting our focus to Lido's native token, LDO, we'll analyze its market performance. As of the writing of this blog post, LDO is trading at approximately $1.5. We'll explore recent price trends, including a modest price increase, and examine the factors influencing its value.

LDO in the Trading Arena

In the days leading up to our observation, LDO had experienced a bearish trend. We'll delve into the factors contributing to this trend and consider the implications for Lido's future.

Technical Analysis

To provide a deeper understanding of Lido's price movement, we'll conduct a technical analysis. This will include a discussion of moving averages and their significance in assessing market trends.

In Summary

In conclusion, the rise of Ethereum staking and Lido's dominance within this landscape raise important questions about the centralization of the Ethereum network. While Lido's success is impressive, it's essential to consider the potential consequences for Ethereum's reputation and its aspirations as a decentralized platform. The future of Ethereum and Lido will undoubtedly be shaped by how these concerns are addressed and the broader cryptocurrency ecosystem's evolution.

#Ethereum #LIDO #LDO #ETH $ETH $LDO #staking

Lido, the largest decentralized finance (DeFi) protocol by total value locked, unveiled plans during its Node Operator Community Call #5 to release a non-fungible token (NFT) representing a user’s withdrawal request amount as part of the process of unstaking their ether (ETH).

Ether withdrawals on Lido, where users can unstake their stETH and receive ETH at a 1:1 ratio, will have two steps: request and claim, according to Mariya Muzyko, product manager at Lido, during the call Tuesday afternoon. Once a user requests a withdrawal, they will receive a Lido-issued NFT representing their withdrawal request. The user can then use the NFT to claim their ETH rewards. The NFT is burned after the user redeems and claims their ETH.

Lido was the first to provide access to liquidity to ETH holders who wanted to stake their tokens by issuing a derivative token, stETH. This token represents the combined value of the user’s initial deposit plus accrued interest and can be used across many DeFi platforms. The introduction of an NFT into the request withdrawal process represents another first of its kind.

Each withdrawal-request NFT will be transferable, which means users can transfer the NFT to another address, giving this new address the right to claim the corresponding ether rewards. If a user decides to sell their NFT on secondary markets, Lido said it will not take a royalty percentage from the sale.

Withdrawal periods will take roughly one to five days to process, depending on the amount of stETH in the withdrawal and the number of total requests, according to the community call.

#ETH #Ethereum #LIDO #Binance #STAKING

It has been a positive period for LDO, with buying pressure remaining strong over the past week. Market indicators and sentiment have generally been bullish for LDO, contributing to significant price appreciation.
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The hype surrounding Ethereum ETFs has also had a favorable effect on Lido DAO (LDO), driving its price up considerably. In the last 24 hours alone, the cryptocurrency has recorded double-digit gains, reflecting its current bullish trend.

Lido’s Strong Performance Amid Ethereum ETF Approval
Lido (LDO) has shown impressive gains, particularly benefiting from the approval of Ethereum ETFs. Over the past 7 days, LDO’s price surged by more than 40%, and in the last 24 hours alone, it increased by over 11%. As of now, LDO is trading at $2.53 with a market capitalization exceeding $2.25 billion, according to CoinMarketCap.

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Interestingly, while Lido experienced significant growth, Ethereum (ETH) saw a modest 1% increase during the same period. Analysts now anticipate a bullish pattern emerging in LDO’s price chart, suggesting the potential for further gains.

World of Charts, a renowned crypto analyst, highlighted a bullish flag pattern in a recent tweet. The latest uptick in LDO’s price has positioned it near the upper boundary of this pattern. A breakout above this level could propel LDO’s price to potentially increase by nearly 250% in the coming weeks.

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Analysis of LDO’s Potential Bullish Breakout
Increased Exchange Outflows: Recent analysis indicates that LDO experienced a sharp increase in exchange outflows last week, signaling heightened buying pressure. This trend underscores investor interest in acquiring LDO, supported by exchange data showing a significant decline in its on-exchange supply while off-exchange holdings rose. Such buying pressure typically correlates with price increases, enhancing the likelihood of a bullish breakout.

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Whale Activity and Price Dynamics: On May 24th, a notable decrease in LDO holdings by top addresses suggested profit-taking by whales, potentially influencing short-term price movements.

LDOUSDT. Source: TradingView
Technical Indicators: Analyzing the daily chart, technical indicators like the Moving Average Convergence Divergence (MACD) exhibited a strong bullish trend. The Relative Strength Index (RSI) also showed a sharp increase, indicating sustained upward momentum. However, LDO’s price nearing the upper Bollinger Bands suggests a potential for price corrections, despite investor confidence in Lido remaining robust.

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Lido-DAO. Source: Santiment
Sentiment Analysis: Data from Santiment revealed a spike in LDO’s weighted sentiment on May 24th, reflecting renewed investor optimism following a previous decline.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#LDO #LIDO #EthereumETF #Solana #Ripple $LDO $BTC $SOL