币界网报道：Background: In the first half of 2025, Lido's share of the Ethereum staking market fell by 9%, while competitor Ether Fi's staking volume increased by 30%. Main events: Ether Fi led the way in the past month, staking 286.3K ETH, while Lido saw an outflow of 182K ETH. Despite the record high overall Ethereum staking, Lido's token LDO experienced a sharp drop of 75% in early 2025, followed by a 60% recovery in the second quarter. Market performance and analysis: Currently, only 16% of LDO token holders are in profit, and the main resistance level is between $1.5 and $1.7. If it can break through this range, LDO is expected to achieve a gain of about 53%. In contrast, Ether Fi outperformed LDO by 130% in May and formed a bullish flag, indicating that Ether Fi may gain 57% potential gains relative to LDO. Potential impact: Investors need to pay attention to the SEC's attitude towards DeFi, which may become a key factor in Lido's recovery. Overall, Ether Fi may provide better returns in the short term.