• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

Lido Inks Gains Alongisde TVL Rise

1 month ago
in Crypto Price Analysis
Reading Time: 3 mins read
Lido Inks Gains Alongisde TVL Rise
4
VIEWS
Share on Facebook

Lido DAO (LDO), the driving force behind the revolutionary liquid staking protocol for Ethereum (ETH), has displayed an impressive 7.41% ascent in its Total Value Locked (TVL) over the course of the last seven days. 

This robust surge in TVL has positioned Lido Finance as a prominent contender in the decentralized finance (DeFi) landscape, illustrating its resilience amidst a fluctuating market.

According to the latest data from DeFiLlama, Lido Finance’s TVL witnessed a notable augmentation, securing its place as the most substantial growth among the top five DeFi protocols. This feat underlines Lido’s exceptional capacity to adapt and expand, distinguishing itself from its counterparts during a pivotal time for the DeFi sector.

Lido Finance TVL. Source: DeFiLlama

Despite the tumultuous price fluctuations that have characterized the altcoin realm, Lido’s TVL growth stood unwavering. This achievement can be attributed to a discernible surge in Ethereum deposits within the protocol over the reviewed timeframe.

Lido’s ETH Deposits Surge Amidst Uncertainty

The primary driver behind Lido’s remarkable TVL surge over the past week was a substantial influx of ETH deposits into the platform. Even in the face of significant market price gyrations, Ethereum holders exhibited a commendable degree of confidence in Lido’s liquid staking protocol. 

LDO has a market cap of $1.47 billion. Chart: TradingView.com

Recent technical analysis highlights that the platform saw a cumulative total of 185,500 ETH deposits in the last seven days alone. This not only positioned Lido as a beacon of stability in a tempestuous market but also secured its status as the go-to protocol for net new Ethereum deposits.

Insights And Outlook For Lido Finance

Lido Finance’s recent achievements underscore its growing prominence in the DeFi realm. With a current price of $1.66 according to CoinGecko, the platform’s token’s resilience (LDO) is further affirmed by its 24-hour rally of 5.1%. Over the span of the last seven days, Lido has achieved gains of 1.4%, a testament to its unwavering performance even in challenging times.

LDO seven-day price action. Source: Coingecko.

As the broader cryptocurrency landscape continues to evolve, Lido’s success serves as a reminder of the power of innovative DeFi solutions. By facilitating liquid staking for Ethereum, Lido DAO not only appeals to those seeking rewards from staking but also embodies the ethos of adaptability that is vital for thriving in the ever-changing world of decentralized finance.

As Lido outperforms its peers in TVL growth and garners a significant influx of ETH deposits, it proves that adaptability and reliability are the cornerstones of sustainable success in the dynamic realm of decentralized finance.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from PortalCripto

Source link

Tags: AlongisdeGainsInksLidoriseTVL

Related Posts

LINK Price Surge Ahead? Chainlink Whales Bet On Accumulation
Crypto Price Analysis

LINK Price Surge Ahead? Chainlink Whales Bet On Accumulation

8 September 2023
Ethereum Bears Gain Upper Hand With Escalating Sell-Off
Crypto Price Analysis

Ethereum Bears Gain Upper Hand With Escalating Sell-Off

5 September 2023
Polygon (MATIC) Drops Below Crucial Level
Crypto Price Analysis

Polygon (MATIC) Drops Below Crucial Level

2 September 2023
Elon Musk Just Crashed Dogecoin – Cryptonewsmart
Altcoin

Elon Musk Just Crashed Dogecoin – Cryptonewsmart

11 April 2023
Kava (KAVA) Price Rallies 10% In 7 Days
Crypto Exchanges

Kava (KAVA) Price Rallies 10% In 7 Days

28 May 2023
Bitcoin Price (BTC) Falls to K; Is K Next?
Crypto Price Analysis

Bitcoin Price (BTC) Falls to $26K; Is $24K Next?

27 May 2023


Buy now
  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Preferences
{title} {title} {title}