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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 and methods
Lido Staked Ethereum (stETH) is a token that represents the Ethereum wagered on Lido, combining the value of the initial deposit and participation rewards.
In particular, stETH token balances are linked 1:1 to Lido Staked Ethereum and token balances are updated daily to reflect winnings and rewards.
In this dashboard we are gonna track the accounts that have staked ETH with Lido when the price of ETH was much higher or much lower than its current price. As well, we will see if they held or sold their stETH splitting by each group.
It is clear that considering the current price of ETH, the major of the Lido ETH stakers deposited their ETH when the price of ETH was higher than it is now. It basically happened because of the big deep in the price observed during the last months due to bad crypto markets that put the cryptos in a bear market.
From the total Lido stakers, only 2.72% deposited its ETH in a lower price than it is now, while 97.3% of them (around 45k users) deposited at a higher rate!
From this group of users, we can see how the moment at when they deposited its ETH doesn't matter. The results looks pretty similar. More users have sold its stETH tokens than hold it.
In numbers, 22.4k users than staked ETH when its price was higher (65%) sold their tokens while the rest (35%) still hold them. On the other hand, 806 (70%) of the users who deposited the ETH at a lower price than it is now sold its stETH, while 340 (30%) still hold it.
Key insights
- The major of the Lido ETH stakers deposited their ETH when the price of ETH was higher than it is now.
- 2.72% deposited its ETH in a lower price than it is now, while 97.3% of them deposited at a higher rate.
- More users have sold its stETH tokens than hold it, independently of the time when their deposited its ETH.