Lido (LDO) Price Inks Gains Alongside TVL Rise – What Traders Should Expect

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin Cash	BCHUSD	Crypto	7,586,690,846	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin Cash

BCHUSD

Crypto

7,586,690,846

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	8.84	2.34%	386.03	385.75	385.85

Price Change

Price Change %

Current Price

Bid Price

Offer

8.84

2.34%

386.03

385.75

385.85

High Price	Low Price	Open Price	Prev. Close	52 Week Range
386.19	376.73	376.73	377.19	164.16 - 719.43

High Price

Low Price

Open Price

Prev. Close

52 Week Range

386.19

376.73

377.19

164.16 - 719.43

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:18:38	0.010280	386.03	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:18:38

0.010280

386.03

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,019,564.35	2,674.79	BCH	BCHEUR	BCHGBP	BCHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,019,564.35

2,674.79

Lido (LDO) Price Inks Gains Alongside TVL Rise – What Traders Should Expect

30/08/2023 11:50am

NEWSBTC

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. Related Reading: Bitcoin Cash (BCH) Records Surprising 15% Rally – What’s Behind It? 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. Related Reading: Crypto Currents: Can Whale Investors Bring PEPE Back In Action? 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

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