Lido DAO
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Lido Finance Launches v2 Upgrade, Institutional Infrastructure Continue to Attract Funding and Partnerships
Markets saw a retracement as retail sales data for April came in lower than expected, triggering fears of weak earnings from retailers. SPX and NDAQ slid 0.3% and 0.6% lower than yesterday's close, while the QQQ continued its ascent from nearly two weeks ago, up 0.5%. Digital asset markets saw a similar decline, with BTC -2.79% dipping below $27k for the second time in the past month, and ETH -2.27% trading at...
Bitcoin (BTC -2.79% ) and the broader crypto market are staging a recovery after a week of bearish price action, with altcoins facing particularly excessive pressure. Bitcoin has successfully bounced off its key 200-week moving average around $25,800 and is now hovering around $27,400. Ethereum (ETH -2.27% ), meanwhile, remains stable above the $1,820 level. Notable standout performers include altcoin LDO -4.60% , up 12% on the day, potentially driven by improved withdrawal capabilities and short...
Stocks and crypto continue to slide as BTC -2.79% fell 2.0% while the S&P dropped 0.52%. The S&P is on track to close its second negative week after the University of Michiganâs consumer sentiment index estimate came in at a 6-month low of 57.7 vs. 63 expected. The survey also showed consumer outlook for inflation over the next 5 years has reached the highest level since 2008, with 3.2% inflation expected....
LOOKS LIKE A PAUSE The Federal Reserve approved its 10th interest rate increase in just over a year, raising the Fed funds rate by 0.25 percentage points to a target range of 5%-5.25%. Many interpreted the Fed's comments as signaling a potential pause in the tightening cycle, mainly due to the removal of a sentence in the post-meeting statement. The statement no longer mentioned that "the Committee anticipates that some...
Prices slid lower this morning ahead of the Fed's FOMC meeting at 2 pm ET before bouncing back after the Fed's interest rate decision of 25bps was released. Bitcoin and Ethereum are up 0.23% and 0.82%, respectively, while most altcoins are down. ARB -5.81% is down 1.69%, SOL -2.18% is down 2.13%, and LDO -4.60% is down 3.72%. An exception to this is Bitcoin layer 2 blockchain, STX -5.98% , which is up 5.28% as...
Crypto markets declined sharply late last night before finding some footing this morning. At the time of writing, BTC -2.79% is down 3.11%, and ETH -2.27% is down 4.93%. It's thought that this sell-off was triggered by a spot sale of 19.9k BTC (~$600M) on Binance over a span of 45 minutes. This is an unusually large sale to happen in such a short period of time. Altcoins have seen more significant...
ETH MOVING SHANGHIGHER As we mentioned last week, the market was overly pessimistic regarding the supply-side effects of the upcoming Ethereum staking withdrawals. Factors such as existing liquidity for most stakers, withdrawal queue limitations, and a market that de-risked in anticipation of the Shapella upgrade all helped to reduce the likelihood of a sudden supply overhang. With this in mind, it seemed reasonable to expect an ETHBTC rally in the...
Investors are bracing for a week of critical economic data, including CPI and PPI data for March, which will be released on Wednesday and Thursday, respectively. Investor concerns about the possibility of another rate hike rose following Friday's robust employment data. Nonfarm payrolls saw an increase of 236,000, close to the Dow Jones estimate of 238,000, while the unemployment rate dropped to 3.5%. In addition to economic data, major banks,...
SHAPELLA ARRIVES We are now less than a week away from staking withdrawals being enabled on the Ethereum network. We have been discussing this topic frequently throughout our research, but to reiterate, we maintain that the market is overly pessimistic about the supply-side effects of this event. To reiterate the key points behind our rationale:LIQUIDITY ACCESS FOR MOST STAKERS: Approximately 60% of the staked ETH is through liquid staking providers...
After a choppy weekend, BTC -2.79% and ETH -2.27% are flat on the day, down 0.68% and up 0.06%, respectively. SPX is down 0.02% at the time of writing, and NDQ is down 0.92%. Most altcoins have underperformed BTC and ETHâSOL -2.18% is down 1.32%, OP -8.39% is down 1.82%, and ATOM -2.92% is down 1.12%. Ethereum Layer 2, Arbitrum, was hit the hardest this weekend after the team backtracked on a governance proposal (which...
BOND VOLATILITY MOVING LOWER IS GOOD FOR LIQUIDITY Over the past few weeks, we have discussed how the ongoing banking crisis, the Fed's language shift and easing monetary policies from major central banks have led to increased net liquidity in the U.S. and higher global USD liquidity. _Source: Bloomberg, Fundstrat_ One risk that these absolute liquidity levels face is a negation by the Fed’s reverse repo facility. The Reverse Repo...
