- Lido’s market share had reached near the critical threshold last year.
- LDO’s bullish trajectory carried on from last week.
Prominent Ethereum [ETH] advocate Evan Van Ness’ cheeky post on social platform X (formerly Twitter) about Lido Finance [LDO], the largest liquid staking protocol, grabbed some eyeballs on the 25th of March.
The story behind
Van Ness brought attention to the drop in Lido’s ETH staking market share, from 32.37% in September 2o23 to 30.36% at the time the post was made, using the famous “How it started vs How it’s going” meme.
AMBCrypto cross-examined the claims using data from Dune Analytics and found them to be true. But why does it matter?
Evan Van Ness in September 2023 had raised concerns over Lido’s increasing dominance in the ETH staking sector.
Its market share at that time was nearing 33% — a critical threshold at which a single entity could theoretically manipulate Ethereum network’s operations.
Without mincing words, he had labeled Lido as the:
“Biggest attack on Ethereum’s decentralization.”
It was no surprise that a drop in Lido’s market share filled him with impish glee, causing him to frame the aforementioned post in a manner he did.
The allegations of centralization
Evan Van Ness was not the first to raise this red flag. Ethereum Foundation researcher Danny Ryan had warned of centralization risks of Lido way back in 2022
Lido Finance, as we know, is the largest staking service provider on Ethereum, with deposits of nearly 9.57 million ETH as of this writing.
By staking ETH through Lido, users not only earn yields from the network side, but also receive liquid derivatives of the locked ETH, enabling their use in other decentralized finance (DeFi) activities.
Its deposits got a boost after the activation of Shapella Upgrade last year, which allowed ETH withdrawals. This helped expand its market share.
Source: DeFiLlama
However, with the entry of liquid restaking platforms like Ether.fi, this dominance has been challenged to a degree.
Realistic or not, here’s LDO’s market cap in BTC’s terms
Meanwhile, the native token of the platform continued its upward slide, increasing 1.42% in the last 24 hours, according to CoinMarketCap.
This comes on the heels of a successful last week during which it surged 37%, becoming one of the top weekly gainers in the market.
- Lido’s market share had reached near the critical threshold last year.
- LDO’s bullish trajectory carried on from last week.
Prominent Ethereum [ETH] advocate Evan Van Ness’ cheeky post on social platform X (formerly Twitter) about Lido Finance [LDO], the largest liquid staking protocol, grabbed some eyeballs on the 25th of March.
The story behind
Van Ness brought attention to the drop in Lido’s ETH staking market share, from 32.37% in September 2o23 to 30.36% at the time the post was made, using the famous “How it started vs How it’s going” meme.
AMBCrypto cross-examined the claims using data from Dune Analytics and found them to be true. But why does it matter?
Evan Van Ness in September 2023 had raised concerns over Lido’s increasing dominance in the ETH staking sector.
Its market share at that time was nearing 33% — a critical threshold at which a single entity could theoretically manipulate Ethereum network’s operations.
Without mincing words, he had labeled Lido as the:
“Biggest attack on Ethereum’s decentralization.”
It was no surprise that a drop in Lido’s market share filled him with impish glee, causing him to frame the aforementioned post in a manner he did.
The allegations of centralization
Evan Van Ness was not the first to raise this red flag. Ethereum Foundation researcher Danny Ryan had warned of centralization risks of Lido way back in 2022
Lido Finance, as we know, is the largest staking service provider on Ethereum, with deposits of nearly 9.57 million ETH as of this writing.
By staking ETH through Lido, users not only earn yields from the network side, but also receive liquid derivatives of the locked ETH, enabling their use in other decentralized finance (DeFi) activities.
Its deposits got a boost after the activation of Shapella Upgrade last year, which allowed ETH withdrawals. This helped expand its market share.
Source: DeFiLlama
However, with the entry of liquid restaking platforms like Ether.fi, this dominance has been challenged to a degree.
Realistic or not, here’s LDO’s market cap in BTC’s terms
Meanwhile, the native token of the platform continued its upward slide, increasing 1.42% in the last 24 hours, according to CoinMarketCap.
This comes on the heels of a successful last week during which it surged 37%, becoming one of the top weekly gainers in the market.
cost clomid without insurance where can i buy cheap clomid without prescription clomiphene cost australia generic clomiphene price where buy generic clomid price clomiphene generico cost of generic clomid without a prescription
I couldn’t weather commenting. Profoundly written!
Palatable blog you possess here.. It’s severely to espy great calibre script like yours these days. I really respect individuals like you! Go through guardianship!!
order azithromycin 250mg sale – cost azithromycin 500mg metronidazole us
buy rybelsus 14mg pill – rybelsus 14mg oral periactin 4mg uk
buy motilium pill – domperidone order buy flexeril 15mg online cheap
augmentin drug – atbioinfo ampicillin cheap
esomeprazole medication – https://anexamate.com/ nexium over the counter
meloxicam pills – swelling meloxicam over the counter
order prednisone generic – https://apreplson.com/ cost prednisone 5mg
buy ed medication – buy ed medications online erection pills viagra online
amoxicillin order online – comba moxi buy amoxil
More articles like this would remedy the blogosphere richer.
Greetings! Jolly productive advice within this article! It’s the petty changes which choice obtain the largest changes. Thanks a a quantity for sharing!
buy forcan generic – cheap fluconazole 200mg order diflucan 200mg online cheap
cenforce medication – cenforce 50mg cheap buy cenforce 50mg
cialis milligrams – https://ciltadgn.com/ comprar tadalafil 40 mg en walmart sin receta houston texas
how to get ranitidine without a prescription – buy ranitidine 150mg online buy zantac 150mg pill
how to get cialis for free – https://strongtadafl.com/# when to take cialis for best results
Thanks recompense sharing. It’s outstrip quality. gnolvade.com
street price of 100 mg viagra – https://strongvpls.com/# figral sildenafil 100mg
This is a keynote which is near to my callousness… Diverse thanks! Exactly where can I lay one’s hands on the acquaintance details due to the fact that questions? zithromax online order
More posts like this would bring about the blogosphere more useful. https://ursxdol.com/provigil-gn-pill-cnt/
I am in fact happy to glance at this blog posts which consists of tons of worthwhile facts, thanks for providing such data. https://prohnrg.com/product/rosuvastatin-for-sale/
I am actually thrilled to glitter at this blog posts which consists of tons of worthwhile facts, thanks object of providing such data. https://aranitidine.com/fr/acheter-fildena/
I couldn’t resist commenting. Warmly written! https://ondactone.com/simvastatin/
More posts like this would make the blogosphere more useful.
flexeril cost cvs
Greetings! Very productive recommendation within this article! It’s the petty changes which wish turn the largest changes. Thanks a quantity in the direction of sharing! http://bbs.51pinzhi.cn/home.php?mod=space&uid=7059400
forxiga 10 mg cost – https://janozin.com/ buy forxiga 10 mg
orlistat price – janozin.com orlistat drug