What Happened on April. 10th | A Bearish View on Liquid Staking Token

In his recent tweets, he expresses negative sentiment towards LSD exposure in the long term. He doesn't believe that staking participation will increase at a rapid pace after the Shanghai upgrade and predicts that it will likely peak at a lower level, possibly in the mid-20s.

Looking further ahead, the entire group may face challenges from fee compression and market share headwinds as new players enter the space and liquidity becomes less of a competitive advantage. Once staking participation reaches its peak, there will no longer be any growth drivers for the group, and revenue for each player will begin to decline.

As a result, people may eventually realize that the group is overvalued and destined to underperform $ETH in the long term.

You can find more discussion on why he thinks the liquid staking market will not grow further below his tweets.

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