KEYTAKEAWAYS
- lido Stops Providing Polygon POS Chain Staking Services
- trump Pledged to Boost Blockchain Growth at the u.s. Blockchain Policy Summit
- whales Who Bought Ethereum at $421.7 Four Years Ago Are Taking Profits, With Returns up to 807%.
CONTENT
LIDO STOPS PROVIDING POLYGON POS CHAIN STAKING SERVICES
On December 17, Lido announced it would halt its staking service for Polygon, informing users they can withdraw their funds by June 16, 2025. After that date, users will need to use browser tools to withdraw. The decision to stop Polygon staking was driven by factors including limited user adoption, insufficient rewards, resource-intensive maintenance, and changes in the ecosystem dynamics.
Analysis:
Lido’s decision to exit Polygon staking reflects deeper issues in the current crypto market. On the surface, it appears to be a business decision driven by low user participation and unsatisfactory returns.
However, the underlying reason may be the intensified competition in the Layer 2 sector, where Polygon’s advantages are no longer as apparent compared to other scaling solutions. This has forced leading liquid staking providers like Lido to reassess resource allocation, focusing on mainstream and more stable yield-generating assets like ETH and SOL.
TRUMP PLEDGED TO BOOST BLOCKCHAIN GROWTH AT THE U.S. BLOCKCHAIN POLICY SUMMIT
On December 17, the Blockchain Association published a statement announcing that U.S. President-elect Donald Trump attended their annual policy summit dinner and delivered an important speech. Trump expressed his full support for the development of the blockchain industry in the U.S. and pledged to ensure that blockchain-related businesses remain in the country, rather than moving abroad.
Analysis:
Trump’s speech clearly expressed support for the blockchain industry and his commitment to ensuring the U.S.‘s leadership in this field. Given the rapid growth of blockchain technology and other countries actively pushing for related policies, Trump’s statement helps enhance the U.S.’s attractiveness and competitiveness in the blockchain space.
His remark about “ensuring businesses stay in the U.S.” suggests that future policies may be implemented to better support blockchain companies
WHALES WHO BOUGHT ETHEREUM AT $421.7 FOUR YEARS AGO ARE TAKING PROFITS, WITH RETURNS UP TO 807%.
On December 17, @ai_9684xtpa reported that an institution or whale, which acquired 41,567 ETH at an average price of $421.7 four years ago, has recently begun to partially take profits, achieving an impressive 807% return.
Eight hours ago, the entity transferred 3,000 ETH to Coinbase, worth approximately $12.13 million. In the past two weeks, it has deposited 8,957 ETH (approximately $32.46 million), and if sold, it would make a profit of $30.48 million.
Analysis:
This event highlights that crypto investors, particularly institutions and whales, often choose to realize some profits after significant price increases. The 807% return illustrates the enormous potential of long-term holding. After several years of holding, this institution has clearly reaped substantial rewards. It also emphasizes the advantage of entering early and maintaining positions for the long term, especially in the volatile cryptocurrency market.
However, while short-term profit-taking can help realize immediate returns, long-term holding remains a key strategy for stable gains. Especially in a bullish market, frequent trading can cause investors to miss out on even greater growth opportunities.
Most successful investors understand that holding quality assets and sticking to a long-term strategy not only maximizes returns but also helps navigate market fluctuations. Therefore, while short-term trades may bring immediate profits, in the long run, stable long-term investment is more crucial.
Also Read：
CoinRank Crypto Digest: December 16, 2024
▶ Buy Crypto at Bitget
CoinRank x Bitget – Sign up & Trade to get $20!
