• The Lido [LDO] protocol witnessed a surge in the number of staked deposits on its platform in the past week.
• Layer 2 solutions such as Wrapped stETH [wstETH] saw an increase in growth, indicating that more users were turning to L2 solutions to stake their assets.
• Despite the growing TVL, the number of unique users on Lido declined by 7.31% in the past month, however, the revenue generated by Lido increased by 6.31%.

The Lido [LDO] protocol has been experiencing a surge in staked deposits on its platform in the past week, as more users are opting to stake their holdings through the Lido platform. This surge in staked deposits has seen an increase in Lido’s Total Value Locked (TVL), growing by 7.77% in the last week. Along with this, Layer 2 solutions such as Wrapped stETH [wstETH] have also seen an increase in growth, indicating that more users are turning to Layer 2 solutions to stake their assets and that Lido is benefiting from this trend.

However, despite the growing TVL, the number of unique users on Lido has declined in the past month by 7.31%. This implies that while more users are staking their assets on Lido, fewer are actively using the protocol and engaging with its services. Nevertheless, the revenue generated by Lido has increased by 6.31% over the last week.

In addition to this, the negative long/short difference on Lido suggested potential selling pressure as prices rose. This could be attributed to users selling their staked assets to take profits. As such, Lido’s staked deposits could see a decline in the near future.

Overall, while Lido has seen a surge in staked deposits and an increase in its TVL, the decline in unique users and the potential selling pressure could have an impact on the platform’s growth.

– Bitcoin’s [BTC] price rallied by more than 2% during intraday trading on 23 January, trading at levels last seen in August 2022.
– On-chain data provider Glassnode’s report revealed shifts in the behaviors of new investors, long-term holders, and miners, which might indicate profit-taking.
– Glassnode’s assessment of BTC’s Percent Supply in Profit metric showed that the surge in price since the beginning of the year represented one of the sharpest spikes in profitability compared to prior bear markets.

The recent surge in Bitcoin’s [BTC] price has seen the leading digital asset reach levels last seen in August 2022. During the intraday trading session on 23 January, the coin saw an impressive rally of over 2%, pushing its price to new highs. This has put many holders in profit.

On-chain data provider Glassnode recently released a report assessing the behaviors of new investors (short-term holders), long-term holders, and miners. The report indicated that profit-taking might be occurring following a significant bearish trading period in 2022.

Glassnode’s report looked at BTC’s Percent Supply in Profit metric. It found that the surge in price since the beginning of the year represented one of the sharpest spikes in profitability compared to prior bear markets. This is a promising sign that the market is healing after the heavy deleveraging pressures inflicted in the second half of 2022.

To determine what new BTC investors have been up to, Glassnode assessed the coin’s Percentage of Short-Term Holder Supply in Profit metric. It found that most new investors have been making profits from the recent rally.

Glassnode also looked at BTC’s Net Realized Profit and Loss metric. It found that the market has suffered two large capitulation events (Terra-Luna and FTX collapse), which resulted in a net loss of 2.9% and 3.7% of the king coin’s market capitalization per week, respectively. However, with the recent spike in BTC profitability, the market has shifted to a state of profit dominance.

Overall, the recent surge in Bitcoin’s [BTC] price has seen the leading digital asset reach levels last seen in August 2022. On-chain data provider Glassnode’s report revealed shifts in the behaviors of new investors, long-term holders, and miners, which might indicate profit-taking. Furthermore, Glassnode’s assessment of BTC’s Percent Supply in Profit metric showed that the surge in price since the beginning of the year represented one of the sharpest spikes in profitability compared to prior bear markets. This is a promising sign that the market is healing after the heavy deleveraging pressures inflicted in the second half of 2022.

• Aave’s partnership with Lemon App could help increase its declining user base.
• The launch of V3 on the Ethereum [ETH] mainnet could help improve the protocol’s TVL in the coming future.
• Whales have sought out AAVE since the launch of V3, potentially signaling future growth of the protocol.

Aave, a lending platform for cryptocurrencies, has seen a decline in its user base and token velocity over the past month. V3, the most significant upgrade to the Aave Protocol, was recently launched on the Ethereum mainnet, generating interest from whales. In a bid to increase its user base, Aave has now partnered with Lemon App, which could give 1.7 million users from Argentina and Brazil access to Aave [AAVE].

The decline in the number of unique users on Aave is likely a symptom of deeper issues within the protocol, such as the lessening of staking rewards. According to Dune Analytics, the total value locked (TVL) has also decreased over the past month, going from $5.4 billion to $3.7 billion.

However, the launch of V3 on the Ethereum [ETH] mainnet could help improve the protocol’s TVL in the coming future. Aave’s partnership with Lemon App could also help increase its user base, and potentially lead to further network growth and token velocity. The whales seeking out AAVE since the launch of V3 could be a sign of future growth of the protocol.

It is yet to be seen if the partnership with Lemon App and the launch of V3 will be enough to revive both the protocol and its token. However, it is certainly a step in the right direction, and could bring about much-needed growth for Aave.