$ETH What do the needles tell us, what do they reveal? 😊Needles, needles—the importance of deep needles—actually, everything started with a single needle. 🙈

LDO project team starts buying back their own tokens Lido recently proposed a plan to use up to 10,000 stETH to buy back LDO. They believe that the current LDO/ETH exchange rate is at a historic low, roughly 60% of the median level over the past two years, which is clearly disconnected from the fundamentals. The execution involves gradual buybacks, with a maximum of 1,000 stETH each time, using channels like CoW Swap, 1inch, and Uniswap. Slippage is controlled within 3%, and the purchased LDO will not be burned but returned to the treasury, to be sold in the next bull market. This proposal has not been finalized yet, but the signal is very clear: Lido believes that the current LDO is undervalued and can be bought in batches.