Having survived per week dominated by the bears, the value of Lido DAO (LDO) is on the rise in the present day, tallying a 16% enhance previously 24 hours. This value restoration has left many questioning if the bearish development is over and whether or not the bulls is perhaps onto one thing right here.

That mentioned, Lido Finance continues to say its dominance within the liquid staking market, recording a considerable enhance in its whole worth locked (TVL) in ETH LSDs previously week. 

Lido DAO Token Value Overview

The previous week noticed the bears take the cryptocurrency market by storm; this has just about been the case for the reason that begin of Might. We watched on as the most recent crypto sensation, PEPE, shed an enormous chunk of its recently-accrued worth within the final seven days. 

The story hasn’t been any a lot totally different for the LDO token. Prior to now week, this cryptocurrency misplaced 1.2% of its worth. It’s price noting that this determine has solely simply dropped – because of the upward value motion of the token within the final 24 hours. 

However, a broader have a look at Lido’s market efficiency previously month nonetheless reveals a gentle value decline. This present downturn in value began way back to April 18, with the token’s worth dipping by greater than 20% inside this era. 

That mentioned, the token seems to be on some form of restoration. In keeping with CoinGecko information, a Lido DAO token at present trades at $1.88, tallying a powerful 16.1% enhance previously 24 hours. In the meantime, there was a corresponding 63.8% bounce within the token’s each day buying and selling quantity.

Lido

Lido DAO buying and selling at $1.894 | Supply: LDOUSD chart from TradingView

Lido Finance Maintains Dominance In ETH Liquid Staking 

Knowledge from DeFiLlama reveals that Lido Finance gained a powerful 4.73% enhance in TVL previously week. In the identical time, Coinbase Wrapped Staked Ether, the second-largest LSD protocol, misplaced 0.91% of its TVL. 

A broader have a look at the metrics reveals that Lido’s TVL jumped by greater than 11% previously month. Inside the identical interval, the TVLs of Rocket Pool and Frax Ether rose by a staggering 35.23% and 42.52%, respectively.

Lido

Supply: DeFiLlama

Certainly, LSD protocols, corresponding to Rocket Pool and Frax Ether, are starting to achieve super market share within the liquid staking trade. Nevertheless, Lido Finance continues to dominate the market, holding 74.35% of TVL in ETH liquid staking derivatives (LSDs). This accounts for six.6 million ETH of the entire locked ether.

Total, the liquid staking market continues to develop – as anticipated, following the Ethereum “Shapella” improve. As of this writing, a complete of 8,886,107 ETH is locked in LSDs, with over 450,000 ether tokens added within the final two weeks.

-Featured picture from Salomon Magaza, chart from TradingView

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