The Bull Case for Lido
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📸 Daily Market Snapshot: Traders are desperately hoping for a green July after a dark red June for the crypto market. Bitcoin started things off well enough, climbing further out of last week's sub-$60K hole.
| Prices as of 7pm ET | 24hr | 7d |
|
Crypto $2.32T | ↗1.5% | ↗4.5% |
|
BTC $62,881 | ↗1.2% | ↗4.6% |
|
ETH $3,426 | ↗0.6% | ↗2.9% |
|
WLD $2.32 | ↘4.0% | ↘19.8% |
The rise of restaking caused crypto investors to dump Ethereum staking heavyweight Lido Finance in the first half of 2024, sending LDO sliding into multi-year lows against ETH.
In the past few weeks, LDO investors were re-invigorated by the protocol's potential to upset the EigenLayer ascendancy. However, on Friday, LDO holders were dealt a massive blow after the SEC designated its liquid staking token as an unregistered crypto asset security in a lawsuit filed against MetaMask creator Consensys.
LDO may have sharply underperformed ETH on a year-to-date basis, but today, we’re discussing why the fundamental bull case for LDO has never been stronger. 👇
Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be.
Is the Ethereum ETF Bullish for ETH?
Matt Hougan and Alex Thorn put together their own analysis of inflows for the ETH ETF. Remarkably, their numbers came in somewhere close to the same place.
We discussed how much demand there will be for the ETH ETF, whether or not it will over-perform or under-perform expectations and the overall state of the Crypto Market today.
Listen to the full conversation 👇
Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?
Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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