However, Cardano’s [ADA] founder Charles Hoskinson weighed in on the staking ban rumor. In a response to Armstrong’s tweet, Hoskison“Ethereum staking is problematic. Temporarily giving up your assets to someone else to have them get a return looks a lot like regulated products. Slashing and bonds not so good. Non-custodial liquid staking on the other hand is like the mining pools we’ve used for 13 years”showed that the LDO supply outside of exchanges was not particularly encouraging.
This implies that LDO self-custody storage did not align with its fundamentals. In contrast, the exchange inflow increased significantly to 2.42 million. But this could be a result of the LDO spike recently and the 38.68% increase in the last 30 days. Hence, there could be cases of selling pressure in the short term.Subscribe to get it daily in your inbox.