Digital Assets: Synthetix Adds Lido Finance's stETH as Asset for Leverage Trading on Synthetix Perps

Synthetix is pleased to announce the addition of Lido Finances' stETH as the latest asset for leverage trading on Synthetix Perps. This new perpetual futures market “has been approved by SIP 2021 and had parameters set in SCCP 2015.

Timeline of Lido-dao, Synthetix-network-token, Steth

On June 18, 2023, the total value locked (TVL) in decentralized finance (defi) protocols has been rangebound and hovering at just above the $42 billion range. Presently, Lido Finance dominates the value locked in defi with $12.69 billion or 29.76% of the aggregate.

Lido DAO (LDO) price gains today suggest the bulls are determined to push it to the $2.5 mark as the broader crypto market cap increased in the last day. LDO has joined the top-gaining coins today, June 7, with an over 6% price increase over the past 24 hours.

The digital currency ecosystem is wriggling out of the mixed performances exhibited in the past week as it prepares to kickstart the new week on a bullish note. While in the past week many altcoins recorded huge losses, three digital currencies including XRP, Lido DAO (LDO) and Terra Classic (LUNC) recorded impressive growth in the

According to statistics, the liquid staking platform Lido accounted for 7.45% of the total value locked in decentralized finance (DeFi) a year ago today. Since then, Lido's market dominance has significantly increased over the last 12 months to its current 26.18% share.

Decentralized finance (DeFi) protocol Synthetix could potentially burn a significant percentage of its supply if the project moves forward with a proposal from its founder. In a new blog update, Synthetix creator Kain Warwick lays out 12 different suggestions or opportunities for the project moving forward.

After establishing itself as the go-to staking king, whales now have eyes on the Lido finance token. This was because 87% of the LDO supply at the time of writing was held by whales despite holding the tokens at a loss.

Synthetix (SNX) has been on many traders' watchlists since the start of May as the Decentralized Finance (DeFi) protocol appears to be pricking the interest of investors in recent times. Synthetix has been recording a slow and steady run in the price of its native token, which has placed its price at $2.45, up by 3.19% over the past 24 hours.

Renowned crypto trader and analyst, operating under the pseudonym DonAlt, has recently shared his perspectives on two major altcoins, Lido DAO (LDO) and Litecoin (LTC), which he currently finds interesting due to various market factors.

In a significant move this week, Lido, a popular Ethereum staking platform, unleashed the second version of its platform, Lido V2, allowing users to withdraw Ethereum (ETH) directly. This noteworthy advancement, along with the further decentralization of its network, demonstrates Lido's strategic drive toward providing an optimally secure and user-friendly staking experience.

In the fast-paced world of cryptocurrencies, Lido DAO (LDO) has made significant waves in the past week, experiencing an impressive surge of nearly 20%. Though the surge comes at a time the global crypto market is not deep in a downtrend, Lido's current rally can be attributed to two notable factors.