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While the world is facing circumstances that have never happened all at the same time (inflation, recession, war, etc...) the projects of the crypto world have their battles to fight.
Among the general collapse of the market, we are finding projects in which the current circumstances make them suffer more than others. There are Celsius or USDD for example, but we are also seeing Ethereum suffer more than expected.
With the expected merge down so close I was not expected to see an oversold currency, at least I did not expect it.
The Merge aims to solve the Blockchain trilemma (scalability, speed, and decentralization). If the result is as expected, the network will increase its transaction capacity per second and will be much more scalable, but now centralization concerns are growing. There are liquid staking platforms that accumulate large amounts of Ethereum.
Lido offers net staking that gives users the option to deposit less than 32 ETH to run a full node on Beacon Chain. If we take into account that Lido has approximately 4.2M of Ethereum (30% of the total participation approx.) one can fear the decentralization of the Blockchain since with those rewards it is likely that all users will be concentrated in one place.
Now Lido has its problems as its stETH token has lost parity with Ethereum and is also at risk of Celsius liquidating its stETH holdings.
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