But before the latest token transfer, on-chain data showed that there has been a minimal movement of long-term holdings. According to Santiment, the 90-day dormant circulation was 18,300.
Although it was important to point out that there was a spike in the metric on 2 May as well. However, for most of the last three months, LDO was idle in the bags of these holders. This suggests that many holders align with the decision toFurthermore, the Realized market capitalization HODL waves had substantially increased at press time. This metric adopts the HODL waves by evaluating the number of LDOs held with a long-term view.
But here, it also considers applying the realized cap as a ratio. By doing this, the metric is able to deduct when there is euphoria in the market to sell.Although the RHODL waves skyrocketed to 22.05, LDO’s price did not follow in the same direction. Therefore, this implies that long-term holders were not willing to part ways with LDO on the macro time horizon. But in a situation where the metric increases with the price, it could suggest the opposite.
With respect to its Total Value Locked , Lido’s worth had diminished from the highs registered in the first few months of the year. The TVL acts as a
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Source: CryptoAmb - 🏆 22. / 68 Read more »