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Lido Finance, the prominent liquid staking protocol operating on the Ethereum blockchain, has reached a significant milestone by surpassing one million Ethereum validators.
Lido holds approximately 28% of the total 32 million staked ETH.
Investors in the cryptocurrency market seem stuck between a rock and a hard place. On one hand, the market shows weakness after Bitcoin halving, signaling an upcoming sell-off, on the other hand, a long-term bullish outlook is likely forming.
Over the past two weeks, the Lido DAO coin price traded sideways struggling to surpass the $2.175 resistance amid Bitcoin's post-halving correction. The notable price swings in daily charts extending laterally indicate no clear dominance from buyers or sellers.
Lido Finance commands the largest share, accounting for over 28% of staked Ether.
Lido Finance (LDO) attains a crucial milestone within the decentralized finance (DeFi) world, hitting the 1 million validator landmark on the Ethereum (ETH) network. That reflects a massive enhancement for DeFi accessibility, as retail users can join the crypto staking world without the needed 32 ETH through protocols like Lido Finance.
TL;DR Lido Finance surpasses one million Ethereum validators, highlighting the impact of liquid staking in the crypto market. Liquid staking democratizes participation in Ethereum by allowing users to stake their Ether and receive stETH tokens in return. The explosive growth of the protocol, with over 28.5% of Ether staked, has raised concerns about potential centralization.
In a significant milestone for decentralized finance (DeFi), Lido Finance has now reached one million validators on the Ethereum blockchain.
Lido, the largest liquid staking protocol, controls over 28.5% of all staked Ether, as liquid staking remains the largest DeFi protocol category.
Lido, with liquid staking ownership of over 28.5%, is the largest layer-1 Ethereum liquid staking protocol, making the DeFi ecosystem the largest protocol category. As the largest decentralized finance (DeFi) protocol on Ethereum, Lido breached 1M validators.
In the last two weeks, liquid staking derivative (LSD) protocols have experienced a decline of 60,000 ether valued at over $198 million, with Lido accounting for 40,000 of the ETH withdrawn.
In the ever-evolving landscape of cryptocurrencies, expert analysis serves as a guiding light for investors navigating the turbulent waters of the market. Recent insights from seasoned crypto analyst Ali Martinez shed light on both promising opportunities and looming challenges in the realm of digital assets.
In the fast-paced realm of cryptocurrencies, seasoned analyst Ali Martinez has recently shed light on promising developments for Lido DAO (LDO) while offering sobering insights into Bitcoin's current trajectory.
The decentralized finance (DeFi) landscape has been brimming with activity over the past week. Leading the charge, Lido Finance announced the launch of its Simple Distributed Validator Technology (DVT) on the Ethereum mainnet.
Cryptocurrency casino ZKasino went live over the weekend but the launch was met with dismay from investors, who are calling foul on the company for sending $33 million worth of user deposits to staking platform Lido.
ZKasino, a blockchain-based gambling project, has sparked widespread outrage within the crypto community after abruptly shifting $33 million worth of investor and user funds to the Lido staking protocol. The community is enraged because ZKasino's move deviated from its initial promise to return the funds to its users.
ZKasino users are expressing their frustration as $33 million in Ethereum, initially promised for refunds, was unexpectedly transferred to the staking platform Lido. This move deviates sharply from the original agreement, stirring significant uproar among investors.
On-chain data shows ZKasino moved $33 million worth of users' bridged ETH to Lido, while users claim it rescinded a plan to return their crypto.
ZKasino showed some promise but a lot of red flags. Now the project's launch has brought on accusations of a $33 million rug pull.
Ethereum restaking protocol EigenLayer saw inflows of approximately $157 million in Lido's staked ETH during the last 24 hours, marking the digital asset's highest inflow on the platform since February.
Cryptocurrency investment products saw minor outflows over the past week as investors became seemingly hesitant on the market ahead of Bitcoin's upcoming halving event, while volume rose from $17 billion to $21 billion, and various altcoins saw significant inflows.
LDO poised for further losses as the bears overpower the bulls.
Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $72,000 level on Monday. Ethereum (CRYPTO: ETH) also recorded gains, surging past the key $3,600 mark this morning.
A bug in the smart contract of Lido's discontinued Solana staking service is reportedly preventing users from withdrawing digital assets valued at more than $24 million. Lido attributes this issue to “a problem with the maintainer bot and the recent update of rent-exempt terms for Solana staking accounts.
