Try Quests to earn crypto[Lido] - HODL or Sell?
Bounty Question: Identify accounts that have staked ETH with Lido when the price of ETH was much higher or much lower than it is now. Have they held or sold their stETH?
Introduction
Lido Finance is described as a liquid staking solution for Ethereum 2.0 and is backed by several of the industry’s leading blockchain staking service providers. Lido Finance lets users stake any amount of ETH without having to maintain complex infrastructure while letting the users also unstake at any time via secondary markets.(Source)
Methodology
Given the price of ETH these days, which is at its lowest level since the beginning of 2021, much lower prices can not be considered. For example, if we consider prices below $ 500 as much lower prices, no ETH can be found stacked in Lido. (ETH has always been over $ 500 since the first day ETH was stacked on Lido). Therefore, it was assumed that prices below $ 2,000 were assumed to be much lower and prices above $ 3,500 were assumed to be much higher. Then, the days when the average price of ETH that day was in these intervals were filtered, and the accounts that had ETH tagged in each of these intervals were obtained. Then the stETH balance of each of these addresses was obtained and the amount of sales of this token by them was reduced. The values obtained indicated the hold or sell of this token.
- The above price chart shows what a big drop ETH in recent days. The average price of this token today was $1205. This amount is almost the lowest in the last 18 months. The deplorable state of the crypto market can be well seen in any analysis and chart.
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The chart above shows the number of days that are known as much more and much less. Trend indicates that much higher and much lower intervals are intervals of several weeks and a certain period must be taken for the price of ETH to pass this interval.
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10173 accounts have tried to stak ETH tokens in a much higher range and 16395 accounts have done so in a much lower range.
- Only 2.46% of stakers in the much larger range are now among stETH token holders. In the case of much shorter intervals, this value is 75%. This large difference may well indicate that stakers at very high prices did not have the ability or courage to hold their tokens, while 75% of stakers at much lower prices, in addition to their stake profits to increase the price of this The token was hopeful and they held at least some of it.