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On-Chain Insights: LSD Tokens, PEPE, and CopeRope
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Key Takeaways
3 min read
  • stETH and rETH saw increases in Smart Money holdings today. Despite the majority of the volumes being due to withdrawals from Agility, an LSD liquidity platform, the total number of ETH staked on the beacon chain climbs to an all-time high.
  • On-chain data of Smart Money activities show a mixed sentiment for the price expectations of newly hyped memecoin PEPE.
  • CopeRope, a meme NFT project that gives a fixed yield paid in shitcoins, mints out and attracts 25 Smart Money buyers.

LSDs

Following the Shanghai upgrade over a week ago, the amount of ETH staked has climbed back to all-time highs after a dip last week as withdrawals became enabled. ~18.86m ETH (approximately 14.5% of the total supply) is currently staked on the beacon chain.

stETH

  • stETH recorded $11.4m of inflows into Smart Money wallets in the past 24H. However, the majority of the top transactions today were due to Smart Money addresses unstaking their stETH from the Agility: stETH Staking Pool.
    • Agility is an LSD liquidity management platform, aiming to unlock liquidity for LSD holders and provide deep liquidity for LSD-related protocols. -...