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The latest price moves in bitcoin (BTC) and crypto markets in context for May 23, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied UltraSoundMoney data on May 20 shows that two million ethereum (ETH), worth roughly $3.6b, is ready to be staked to further beef up the Ethereum network security. Enough ETH to “51% attack” Bitcoin This sizable reserve has inspired
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Hal Press, the founder of hedge fund North Rock Digital, wrote on Twitter that he has “been critical of LDO in the past partly because the token accrued no value,” but said if the proposal was adopted, it “would go a long way toward fixing that issue.” Source
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To fully achieve the promise of this innovation, a standardized benchmark can be produced by capturing and publishing the daily, annualized mean of on-chain rewards across all validators. It would be difficult to manipulate because of the inherent transparency, replicability and immutability of the blockchain – in contrast, say, to
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The crypto project’s safETH token represents a basket of liquid staking tokens from Lido, Rocketpool and Frax. Original Source
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Commanding about nearly 80% market share of liquid staking derivatives on Ethereum, per blockchain analytics firm Nansen, Lido has already withdrawn more than 278,000 ETH at press time, making the staking giant the fourth largest entity by ETH withdrawals, trailing crypto exchanges - Kraken, Coinbase and Binance. Source
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According to data by crypto intelligence firm Arkham Intelligence, Celsius transferred some 40,928 ETH to a crypto wallet spread through fourteen transactions between May 10 and May 12. The account is owned by Figment, who deposited the funds into staking contracts, according to Ethereum blockchain explorer Etherscan. Original Source
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Demand for staking ether has surged, resulting in wait times of over a month for a 5% annualized yield as of Monday. Source
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In less than two weeks, the total value locked (TVL) in liquid staking derivatives has increased by 441,110 ether, worth roughly $793 million. While Lido Finance dominates the market with 74.35% of the TVL, competing liquid staking protocols Rocket Pool and Frax Ether have recorded double-digit gains of 34% to
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When Ethereum recently completed an upgrade known as Shapella, it was heralded as opening a new era of staking ETH. Up until that point, if you staked ETH to help run the blockchain, you couldn’t get it back. Shapella made it possible to unstake, making it more attractive to pledge
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