Lido lays off 15% of its staff due to cost pressure

Lido's token is LDO. The project team's layoff announcement indicates that their profits are very poor in a bull market, so layoffs are necessary. This directly reflects that the overall market is not good. As the leader in Ethereum staking, if they are struggling, other projects are unlikely to be doing much better. This can better explain why altcoins are not rising.