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The Bull Case for Lido
Published on July 1, 2024
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NEED TO KNOW
Circle Gets EU License
  1. 💶 Circle Gets MiCA Stablecoin Issuer License. They will issue the USDC and EURC stablecoins in full compliance with Europe’s new regulatory framework.
    Read more on Bankless.com
  2. 💻 Sony Plans to Resurrect Purchased Crypto Exchange. The Japanese tech giant bought Whalefin from Amber Group last year.
    Read more on Bankless.com
  3. 👮 U.S. Marshals Tap Coinbase for Crypto Custody Needs. The U.S. is relying on Coinbase an awful lot despite SEC aggression against it.
    Read more on Bankless.com
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MARKET VIBES
Green July Ahead?

📸 Daily Market Snapshot: Traders are desperately hoping for a green July after a dark red June for the crypto market. Bitcoin started things off well enough, climbing further out of last week's sub-$60K hole.

Prices as of 7pm ET 24hr 7d
Crypto $2.32T ↗1.5% ↗4.5%
BTC $62,881 ↗1.2% ↗4.6%
ETH $3,426 ↗0.6% ↗2.9%
WLD $2.32 ↘4.0% ↘19.8%

🔒
New Token Rating: Worldcoin’s valuation cracked $100B in early March but has plunged 80% since! Is WLD an undervalued AI opportunity?
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ANALYSIS
The Bull Case for Lido
Bankless Author: Jack Inabinet

The rise of restaking caused crypto investors to dump Ethereum staking heavyweight Lido Finance in the first half of 2024, sending LDO sliding into multi-year lows against ETH.

In the past few weeks, LDO investors were re-invigorated by the protocol's potential to upset the EigenLayer ascendancy. However, on Friday, LDO holders were dealt a massive blow after the SEC designated its liquid staking token as an unregistered crypto asset security in a lawsuit filed against MetaMask creator Consensys.

LDO may have sharply underperformed ETH on a year-to-date basis, but today, we’re discussing why the fundamental bull case for LDO has never been stronger. 👇


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LATEST POD
Will ETH ETFs Win Big?

Is the Ethereum ETF Bullish for ETH?

Matt Hougan and Alex Thorn put together their own analysis of inflows for the ETH ETF. Remarkably, their numbers came in somewhere close to the same place.

We discussed how much demand there will be for the ETH ETF, whether or not it will over-perform or under-perform expectations and the overall state of the Crypto Market today.

Listen to the full conversation 👇

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GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.

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