Leading liquid staking protocol for Ethereum [ETH], Lido Finance [LDO], saw its total value locked (TVL) surge by over 7% in the past week.
Lido’s TVL declines sharply after it ceases operations on Layer 1 blockchain Solana. However, as the market stabilized, the protocol’s TVL has resumed its upward trajectory.and the new deposits made through Lido during that period, the protocol noted in its latest weekly update on X .– stETH APR grew with the 7d MA at 3.72%.
Between 16 and 23 October, the values of ETH, MATIC, and SOL increased by 6%,18%, and 32%, respectively. At press time, Lido’s TVL stood at around $15.84 billion, with a double-digit rally in the last month, data from DefiLlamaIn terms of net new deposits to the Ethereum Beacon Chain, Lido previously led other protocols. However, the past two weeks have been marked by a decline in new Ether deposits made through the decentralized finance protocol.
During the period under review, new deposits to the Ethereum Beacon Chain made through Lido totaled 16,576 ETH in the form of staked coins, putting it six places behind Kiln, which logged the most deposits, data fromThis represented a 66% decline from the 48,480 ETH in net new stakes made to Ethereum through Lido between 9 and 16 October.
Despite the fall in new stakes through the protocol, Lido’s Annual Percentage Rate earned on its staked Ether grew by 12%.Regarding Layer 2 platforms, data from Dune Analytics showed a 0.74% increase in the amount of stETH bridged toBenefitting from the general market growth in the past few days, LDO’s value rallied by over 20% in the last week. At press time, the altcoin exchanged hands at $1.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marinade Finance’s UK lockout: SOL’s TVL persists amid price troublesThe latest platform to shut its doors to UK users is Marinade Finance, a DeFi platform in the Solana ecosystem.
Read more »
Solana trades at pre-FTX levels once againSolana [SOL] has seen the most growth among the top ten crypto assets in terms of market capitalization in the last month, with its price...
Read more »
Qatar Airways CEO will step down after nearly 3 decades leading carrierNEW YORK (AP) — Qatar Airways Group chief executive Akbar Al Baker is stepping down after 27 years leading the company. Al Baker's retirement will go into...
Read more »
By the Numbers: DeBrincat, Larkin leading Red Wings resurgenceAfter dropping their season opener 4-3 to the New Jersey Devils, the Detroit Red Wings have turned around to win five consecutive games, landing them fourth overall in the league standings with the duo of captain Dylan Larkin and Alex DeBrincat fueling Detroit’s rise to the top in the early going.
Read more »
MUN professor finds high-fat diet triggers brain inflammation leading to weight gainExplore stories from Atlantic Canada.
Read more »