Ethereum's Cartel Concerns and Price Predictions: Unpacking Staking, Limited Dips, and Parabolic Gains

Ethereum staking has seen a surge in activity following the Shanghai upgrade, with daily deposits increasing from 460 to 8,108. Lido Finance, the dominant player in Ethereum's staking pools, continues to maintain its outsized presence despite concerns about centralization. While Lido briefly experienced a drop in size, it quickly rebounded to reach a new all-time high. However, there has been a shift in stETH's usage within DeFi protocols, with a decrease in liquidity pool footprint but an increase in collateral usage in lending protocols. Despite these changes, Ethereum's cartel, led by Lido Finance, remains intact.