Lido DAO has outperformed the broader crypto market in a week. But why?
). However, LDO has greatly outperformed the broader crypto market that's up only 4.5% since May 12.But what are the reasons why Lido DAO is outperforming the rest of the cryptocurrency market right now? Let's take a closer look at the three biggest factors likely driving up LDO price.The LDO price recovery coincides with the net positive inflows intoLido DAO is primarily an Ethereum liquid staking platform.
For instance, the net ETH staked with its PoS contract were 19.27 million ETH on April 11, a day before the Shapella upgrade. The number fell to 90,704 a week later, followed by a consistent recovery, according to data tracked by Nansen.As of May 16, the Ethereum PoS contract had over 20 million ETH, underscoring the growing demand for liquid staking service providers like Lido DAO. The price of its governance token LDO likely benefited from the narrative.
For instance, Lido DAO's nearest competitor, RocketPool , has also soared 15% to around $50 when measured from its May 12 low.It should be noted that Lido DAO did not support full ETH withdrawals. Instead, it issued staked Ethereum , theoretically pegged to ETH by 1:1, to users that could be exchanged freely for other crypto assets across exchanges.," which enables Ethereum stakers to burn their stETH and exit the protocol at a 1:1 ratio.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Lido DAO (LDO) up 8% as V2 Version Goes Live: DetailsLDO jumps 8% as long-awaited LidoFinance V2 goes live
Leer más »
BTC Reclaims $27K, While LDO and LTC Explode by 8% Daily (Market Watch)Litecoin and Lido DAO have emerged as the top performers from the top 50 alts today.
Leer más »
Start mammograms at 40, not 50, a US health panel recommendsWomen should start getting every-other-year mammograms at age 40 instead of waiting until 50, according to a draft recommendation from a federal task force.
Leer más »
Start mammograms at 40, not 50, a US health panel recommendsWomen should start getting every-other-year mammograms at age 40 instead of waiting until 50, according to a draft recommendation from a federal task force.
Leer más »
Dallas Arts District Looks Back at 40 Years of Shows, Plays, Concerts and PerformancesArt, theatre, music, dance and other forms of expression can be found throughout the city from the murals that grace the buildings in Deep Ellum to theater companies like Kitchen Dog and Theatre Three. One very important part of the city's artistic preservation and practice efforts has been in business for four decades.
Leer más »
Indie Innovators: 40 Most Influential Women in International FilmThese game-changers are bringing stories to a global stage and nurturing new voices.
Leer más »