👀Lido Completes Last Major Token Unlock

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Lido's final token unlock released 8.8M LDO, equating to 1% of the token's supply, into circulation. While the broader markets appear hedged for downside risk, with LDO's price dropping 7% in the past 24 hours, some analytics believe the unlock is a bullish milestone for the project.

Data from Bitwise shows that Uniswap beat out the spot trading volume on top U.S. exchange, Coinbase, for the first time in Q1 2023 before extending its lead last quarter. Spot volumes on Coinbase are down 83% since Q4 2021, while Uniswap has retained half of its activity over the same period.

✍️ In today’s newsletter:

Traders prepare for 8.5M LDO tokens entering the market
Uniswap outpaces Coinbase by spot volume in 2023

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