- LDOs contributed enormously to the portfolios of venture capital funds.
- However, the overall speed of the LDO decreased.
Major VCs (Venture Capital) like Dragonfly and Wintermute have seen huge gains in their portfolios in recent months. According new dataWas seen Yeah it was a major token in their respective wallets.
Dragonfly’s portfolio grew 39.2% over the last month, with more than 41 million LDOs. This was almost half of his total portfolio.
LDO represented 17% of his $89 million portfolio for Wintermute. However, the fund that made the most profit was Paradigm. 90% of his portfolio consisted of LDO tokens. And they saw a 40% increase in the last month.
Is your wallet green? Check LDO earnings calculator
whales are shy
These venture capital funds have managed to increase their returns, but investors should proceed with caution.
Over the past month, the overall velocity of LDOs has decreased, implying that the frequency with which LDOs are traded has decreased.
Simultaneously, the percentage of large addresses that had LDOs also decreased. Therefore, the whales were losing interest in LDO tokens.
However, new addresses continued to be attracted to the LDO as the network experienced a growth spurt.
Source: Feeling
lido rakes in the cash
Also, the number of unique depositors on Lido has increased according to Dune Analytics. 123,840 unique depositors were present at lido Protocol, while typing
Simultaneously, the number of unique users on the protocol also increased by 38.06%.
Due to this, the revenue generated by Lido also increased by 32% according to Messari data.
How much is 1,10,100 LDO? is it worth it today?
This increase in revenue contributed to the coffers of the Lido, which subsequently grew. However, it appeared that treasury funds were not being used, as there was a decrease in the amount of code compromised on the Lido GitHub protocol.
The decreasing number of code commits suggested that the Lido developers were not actively working on any improvements or updates to the protocol.
Source: Token Terminal
Overall, it appears that the funds have made a profit from the LDO token. Although the protocol has shown improvements, on-chain metrics suggest that investors should be careful when buying LDOs.
If Lido manages to capitalize on its dominance and invest its treasury funds in developing the protocol, the future could look bright for both token holders and the protocol.
