Lido DAO (LDO) Token Surges Despite Declining Market Share in Ethereum Staking
Lido DAO (LDO), the leading Ethereum (ETH) staking provider, is experiencing a surge in token price despite a decline in its share of the ETH staking market.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, FSC, ASIC, CySEC, DFSA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | BVI FSC | USD 1 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
DeFi Market Booms, Lido’s Market Share Shrinks
The total value locked (TVL) across DeFi protocols has reached a two-year high of $106.45 billion, reflecting a bullish market trend.
Lido Finance, the largest DeFi protocol by TVL, has seen its own TVL rise 30% since mid-May. However, Lido’s dominance in ETH staking is waning. Its share of staked ETH has dipped to 28.6%, the lowest since April 2022. This coincides with a broader decrease in staked ETH across platforms.
LDO Token Outperforms
LDO price has jumped over 30% in the past week, defying the trend in Lido’s market share. This surge is attributed to increased demand, with the token’s Relative Strength Index (RSI) indicating strong buying pressure.
Whale activity has also spiked, with LDO ranking second among altcoins most purchased by whales in the recent upswing, behind only Ethereum itself.
Security Breach Resolved
A recent security breach involving a Lido Node Operator, Numic, raised concerns about the compromise of validator keys. Lido DAO and Numic swiftly addressed the issue, resetting keys and implementing precautionary measures to prevent financial losses. Transparency and swift action helped maintain community trust.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top Broker