Lido issues update about its decentralization plans and the state of progress. LDO fails to drum up a large enough rally to push out of the current range. The latest update was on Lido’s migration to decentralization and self-custody. There have been concerns in the past about Lido being centralized. The update details the staking […]
One of the most notable aspects of the update is that it clarified the methodology involved in unlocking ETH staked before July 2021. Lido expects the measures to facilitate a smooth unlocking and withdrawal process.
The update also reveals that eight issues were fixed and there were no critical challenges. Lido noted that the messages being generated will be broadcasted after the Shapella hard fork.LDO’s supply in smart contracts dropped from 45.74% at the start of the second week of March, to 45.09% on 16 March. Its transfer rate experienced a marginal increase during the same period.This is because its $2.56 press time price represented a 16% discount from its weekly high.
The current rally did see more attention shifting to Bitcoin and Ethereum. Nevertheless, LDO’s price has shown relative weakness which is evident by its inability to stay above the 50-day moving average.An analysis of LDO exchange flows reveals multiple key observations. The first is that both exchange inflows and outflows have declined since 15 March. This may explain the lack of strong bullish momentum, thus LDO’s failure to push to a new high in the last two weeks.
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