on the news of increased scrutiny of staking on centralized exchanges, it retreated by almost 6% at press time. What could be behind this pullback?Data from Santiment showed that LDO’s exchange inflow and by extension the exchange balance increased dramatically on 10 February. This implied that investors started transferring their tokens to sell them off and earn profit.The MVRV 30-Day Ratio also aligned with this deduction.
Having said that, LDO holders should remain optimistic about the token’s prospects, as SEC’s regulatory chokehold on centralized exchanges could be a big macroeconomic trigger for the growth of liquid staking protocols.Subscribe to get it daily in your inbox.
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