ETH's Price is at Stake

The bar chart below represents the number of address that stakes via Lido over time per day. The line represents the daily average price of ETH. Some notable events visible on the chart are:

a) Aug 14th '21

The surge of address that stakes after it reaches 3K USD ranges for the first time after fall from 4.2 K on May 12th

b) Feb 11th '22

The sudden spike in address participating in staking when ETH price hikes to 3K USD range again

c) May 6th to May 9th '22

There are a huge traffic of address staking on Lido for several days, however unlike the previous 2 events, ETH price is not regaining higher range but is in downward pattern

Overall we can say that there will be a huge traffic in Lido staking during ETHs price gaining 3k ranges according to previous user activities and price actions

HODL and Steady Lads...

Froom the bar chart below, we can see ETH staker portfolio balance of their stETH. We can see that the largest group of these stakers are the ones that yields less than 1% balance. This shows that most stakers has dumped their stETH for other assets. There are 27.8K address that has dumped their stETH positions . Howver, 26.54K address still held at least 50% of their intial staked ETH. Interstingly, there are 10K address that acquire more stETH via other means(possibly swaps) to increase their staking positions.

...Deploying Capitals (stETH)

Now lets impose these address staking price range and current holdings onto previous chart.

The largest demographic of those who dumps stETH are those who staked between 2K and 3K ETH price. Interestingly, those who still had more than 50% of their stETH consist of those who stakes between 3K and 4K price range. This is also the case for those with more than 100% stETH balance.

Ironically, from this, those who stakes between 3K and 4k are mostly bulls, while those who stake at 2K up to 3K are mostly bears on stETH

Takeaway

There are several patterns to be noted from this study:

1 ) There tend to be massive surge in address count to stake on Lido when ETH breaks 3 K USD.

2 ) Most Lido staker, has sold majority of their stETH position (27.9K address)

3 ) Lido staker that still held their at least 50% of stETH are at 26.5K address, second largest groupings.

4 ) There about 10K address that acquired stETH via other means than staking ETH

5 ) Those who stakes between 3K and 4K price ranges tend to be bulls, and those who stakes between 2K and 3K price range tend to be bears

Introduction

This study is done to observe Lido staker behaviour and their HODLing strategy in relation to ETHs Price action and over time. This is important to see what is the general outlook on staked Ether by the community

Overall, the number of address that held significant amount of stETH are larger than those who dumped stETH. Based on this, the outlook is bullish on stETH