In its latest move, corporate cryptocurrency trading platform FalconX has withdrawn a large amount of altcoins from the crypto exchange Binance.
FalconX has accumulated more Lido Finance (LDO) and Maker DAO (MKR) tokens, which are already abundant in its portfolio. The company raised MKR worth $1.18 million and LDO worth $1.33 million.
The total cryptocurrency portfolio of FalconX, which seems to prefer Ethereum liquid staking platform tokens, is as follows:
- MKR: $12.36M
- USDC: $10.40M
- ETH: $8.16M
- LDO: $6.28M
- LINK: $3.23M
- USDT: $2.49M
- VEGA: $1.90M
- T: $1.56M
- USDP: $1.47M
- AVAX: $957.63K
- ANT: $733.55K
- WBTC: $720.11K
- LOCUS: $684.27K
- PREPOSITION: $564.89K
- OP: $506.31K
Liquid staking derivatives bypass the minimum 32 ETH staking limit required for Ethereum staking transactions, so anyone can earn ETH by participating in ETH staking transactions, even in small amounts.
However, there are concerns that it centralizes Ethereum, especially regarding Lido Finance. Vitalik Buterin also touched upon this centralization caused by Lido Finance in his recent blog post.
*This is not investment advice.
