The Case for Lido (LDO) Comeback

PLUS: Cathie Wood Buys the Dip (Again)

Hi Investor 👋

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In today's newsletter:

• 💡 The Case for Lido (LDO) Comeback

• 📣 Cathie Wood Buys the Dip (Again)

• 📈 Bitmine's Bankruptcy Narrative is Breaking

Let’s dive in!

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💡 Insight

The Case for Lido (LDO) Comeback

Source

Lido ($LDO) has been bleeding slowly for over a year, down ~75% from its 2023 high.

But according to data from Token Terminal, the fundamentals tell a different story:

• Revenues are stable → Lido continues to dominate Ethereum staking

• ETH staked is growing, not shrinking

• Yet $LDO has massively underperformed staking competitors (e.g. $RPL, $FXS)

There’s clearly a disconnect between Lido’s protocol health and $LDO’s price action.

👀 Why It Matters

Smart investors should watch for reversion setups where price lags fundamentals.

With ETH narrative heating up (restaking, ETFs, modular chains), any return of risk appetite could rotate back into liquid staking tokens—especially ones with:

• Real protocol cash flow

• Dominant market share

• High token underperformance

That’s a rare trio—and Lido checks all three boxes.

➡️ Read the Full Analysis

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📣 Update

Cathie Wood Buys the Dip (Again)

Source

While Bitcoin continues to slide, Cathie Wood’s ARK Invest just went shopping—scooping up over $70 million worth of crypto-exposed stocks.

ARK’s buys include:

• $43.7M of Coinbase (COIN)

• $25.4M of Block (SQ)

• Spread across ARKK, ARKW, and ARKF ETFs

This marks ARK’s 4th straight day of crypto buys, signaling strong conviction that this is a temporary dip—not a macro reversal.

Read more →

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📈 Signal

Bitmine's Bankruptcy Narrative is Breaking

Milk Road@MilkRoad

The Bitmine bankruptcy bears are about to look absolutely foolish. At current $ETH prices (~$2,350), Bitmine is pulling in $25M per month just from staking. They're also sitting on $586M in USD that's generating another $2M monthly. All with roughly $14B worth of $ETH on their

Shay Boloor @StockSavvyShay

TOM LEE’S $BMNR BUYS ~42K $ETH WORTH ~$97M

5:31 PM · Feb 2, 2026 · 131K Views

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54 Replies · 61 Reposts · 606 Likes

Crypto Twitter’s bracing for Bitmine to collapse... but the numbers tell a very different story.

At current ETH prices (~$2,350), Bitmine is generating:

• $25M/month from staking yield

• $2M/month in interest on $586M in cash reserves

• While sitting on $14B in ETH with zero debt

🧠 Takeaway

Don’t let bear market trauma cloud your judgment. Follow the on-chain fundamentals, not the fear.

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