What Will You Read?

    In this Analysis, You will Read about the total amount of ETH that has been staked with Lido. I will show the daily amount of ETH staked with LIDO. DO you think is there any trends?

    All Data in this analysis is from the last 3 months.

    What is Lido?

    Lido lets users stake their assets for daily staking rewards. User can stake any amount of tokens - no minimum.

    Method

    stETH contract address is 0xae7ab96520de3a18e5e111b5eaab095312d7fe84. I used ethereum.core.fact_event_logs to find each transaction that sent to stETH address from ethereum null address. Then calculated each paramteres.

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    The below chart shows the total number of stakes and unique users. A huge trend occurred from May 5th until May 9th. The total stakes and total unique users increased from an average of 300 to above 2K stakes and unique users. These numbers happened exactly before the Market crashed on May 11t. In those days, the total stakes decreased a little, not too much.

    The total number of unique users that staked on Lido in the last 3 months is 29.7K users.

    The total daily staked amounts and volume is shown in the below chart. As you can see, the trends were totally different from daily users and stakes. A Huge stake happened on March 15th with 191k ETH which was worth 490M dollars at that time. From March 15th until March 19th, You can see the amount of the stake was higher than the average. After that time, amounts decreased. Again at the end of April, The amounts started to increase. About 104K ETH staked onMay 2nd which with 295M dollars in that time. After that time stakes amount dropped significantly.

    In the Last 3 months, About 1.92M ETH was staked on Lido.

    The below chart shows Cumulative stake amounts and unique users in the last 3 months. We already have seen that the trends in Unique users and stakes were not related to each other. In this graph, you can see the slope of growth in staking amount at the begging of the chart. But users haven't changed too much. But During May, The number of users and amounts increased. At the end of the chart, unique users increased but seem stake amounts decreased.

    The total staked volume is 5.6B dollars in the last 3 months on Lido.

    This analysis shows that where ever Market goes, The daily users haven't changed. But the amounts of stake definitely have changed. Also, We can see in the charts some whale activities. Especially on March 16th.

    Since the market crashed, The daily users haven't changed, but it seems users do not Stakingtoo much. The amount of stake decreased significantly after May 11th, when the market crashed because of UST.Depeg.

    Conclusion

    Thank You For Reading

    Written by Hess

    where

    discord_id: hess#0890

    and

    twitter_id: @hessaminanloo