LDO contributed massively to VC funds portfolios. However, the overall velocity of LDO declined. Major VCs (Venture capital) such as Dragonfly and Wintermute observed massive gains in their portfolio over the last few months. According to new data, it was observed that LDO was a prominent token in their respective portfolios. Dragonfly’s portfolio grew by […]
These VC funds have managed to increase their profitability, but investors should proceed with caution.
Over the last month, the overall velocity of LDO declined, this implied that the frequency with which LDO was being traded, went down. Along with that, the percentage of large addresses holding LDO also decreased. Thus, whales were losing interest in the LDO token.Source: SantimentFurthermore, the number of unique depositors on Lido increased according to Dune Analytics. 123,840 unique depositors were present on theCoupled with that, the number of unique users on the protocol also increased by 38.06%.How much are 1,10,100 LDOsThis spike in revenue contributed to Lido’s treasury which surged of late.
A declining number of code commits suggested that Lido’s developers weren’t actively working on any upgrades or updates on the protocol.Overall, it appears that funds have managed to profit from the LDO token. Even though the protocol has shown improvements, on-chain metrics do suggest that investors should be cautious while buying LDO.
If Lido manages to capitalize on its dominance and invests its treasury funds into the protocol’s developments, the future could look bright for both the token holders and the protocol.Subscribe to get it daily in your inbox.
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