News

Lido Finance Launches Community Staking Module As Whale Sells Off $LDO At A Loss

Earlier this week, Lido Finance ($LDO) introduced the Community Staking Module (CSM) on the Ethereum mainnet, marking a significant development in its liquid staking solutions for proof-of-stake (PoS) networks.

CSM opens with an Early Adoption phase, where select solo stakers and high-performing participants from the testnet stage gain initial access.

This module enables any node operator to use Lido on Ethereum to run validators, with the capital requirement reduced to just 2.4 $ETH for the first validator.

By lowering the entry threshold, Lido aims to make validator operations more accessible to a broader range of participants.

In other $LDO news, a whale known as 0x9244 recently liquidated its entire $LDO holdings, realizing a significant loss. The whale offloaded 458,860 $LDO (worth about $489,600) in exchange for 181.6 $ETH, approximately one hour ago.

This trade marked an estimated $900,000 loss, as the tokens were primarily acquired three years ago across multiple wallets at an average purchase price of $2.50.

Related Post

$LDO Bad Run Over The Past Year

The timing of this large sell-off coincides with a challenging period for $LDO, which currently trades at a notably lower level, showing a 40% decline over the past year. Despite recent price declines, the launch of the Community Staking Module represents a strategic move by Lido to expand its user base and improve accessibility in the staking ecosystem.

As the CSM’s adoption phase unfolds, Lido’s approach could attract more stakers seeking to participate in Ethereum’s validator network with reduced capital requirements, potentially influencing $LDO’s market dynamics in the long term.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: phongphan/123RF // Image Effects by Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

Solana’s $3.2M Entrepreneur Story & BlockDAG’s $1 Potential

How Solana Transformed an Entrepreneur’s Life & Why BlockDAG Could Be the Next Millionaire Maker…

2 hours ago

SOL Market Cap Hits $100 Billion as Possible Infinaeon Long-Term Price Targets Surge

The SOL price has surged to well over $200 as its market capitalization exceeded $100…

7 hours ago

Binance Coin Whales Reap Big Profits as Polkadot Struggles; A New Crypto Presale Is Dominating Investor Attention

BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…

10 hours ago

Three Crypto That Surprised The Market: Rollblock, Cardano, and XRP

The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…

10 hours ago

As Bonk (BONK) and Pepe (PEPE) Shine, Rollblock (RBLK) Captures the Market’s Attention With Upcoming Reveal

Meme coins are back with a bang and are as insanely volatile as ever! Bonk…

10 hours ago

2024’s Top 9 Crypto Staking Platforms to Make Passive Income

Staking has become one of the most effortless ways to generate passive income in the…

13 hours ago