Lido witnesses surge in staked deposits: Will LDO's growth be sustainable?

Over the last week, the Lido LDO protocol witnessed a surge in the number of staked deposits on its platform. According to a tweet on 24 January, the number of staked deposits on Lido increased, except that of Solana SOL.

Timeline of Lido-dao

Lido's market cap grew significantly over the last few days, according to recent data provided by Messari. The growth in market cap was attributed to the hype around the upcoming Shanghai Hardfork on Ethereum.

Rocket Pool, the third largest Ethereum liquid staking protocol by trade value locked (TVL), has joined forces with Coinbase Ventures. According to an announcement on Rocket Pool's discord channel, Coinbase Ventures will be joining Rocket Pool's Oracle DAO (oDAO).

On Friday, the Web3 wallet firm Metamask, a subsidiary of the Ethereum-centric company Consensys, announced the beta launch of ethereum staking features will be made available via Lido's or Rocketpool's liquid staking services.

Ethereum's [ETH] Shanghai update, set to go live in the first quarter of 2023, will introduce staking to the ETH protocol. The update has the potential to be a key growth catalyst for staking protocols such as Lido [LDO].

Key Points: A wallet with a substantial amount of LDO has transferred $1,000,000 $LDO to Binance. One million dollars' worth of LDO was sent from a wallet holding a sizable this token balance to the cryptocurrency exchange Binance.

Lido Finance's governance token LDO, saw a significant increase in price of 78% in the past week. This made LDO one of the top-performing cryptocurrency assets in terms of gains over the past seven days, according to data from CoinMarketCap.

Liquid staking derivatives tokens have increased by an average of over 40% in the last seven days, with Lido (LDO) rising the highest by over 64%, according to CryptoSlate's data. The post Liquid staking tokens surge 40% in seven days, Lido rises highest appeared first on CryptoSlate.

Lido DAO (CRYPTO: LDO) has rallied over 79.63% in the past seven days and was trading at $1.94 on Monday at 12 a.m. EST. Cryptocurrency Gains  Price (12 a.m.EST) Lido Dao +79.63% $1.94 Solana +63.47% $16.30 Optimism +43.90% $1.32 Ziliqa +39.96% $0.022 Ethereum Classic +36.12% $21.36 What Happened: Apex cryptocurrency Bitcoin (CRYPTO: BTC) gained 3.53% over the past seven days and managed to breach the $17,000 mark while Ethereum (CRYPTO: ETH) rose 9.

A section of the crypto market revived after Christmas ended in sluggishness, with Lido Finance [LDO] registering a 10% increase in the last 24 hours. As a result of the uptick, long-term investors of the Ethereum [ETH] staking protocol decided to sell off some of his holdings.

Leading liquid staking platform Lido Finance, on 23 December, announced a successful pilot integration with Obol Network, a distributed validator technology provider, on the Goerli testnet.