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The cryptocurrency market is on the upswing today, with Bitcoin's price rising above $20,500 for the first time in weeks, Ethereum's price rising above $1,500 for the first time since the post-merge turmoil, and the total market cap surpassing $1 trillion after three weeks below that threshold.
LDO, the native token of leading Ethereum [ETH] staking platform Lido Finance ranked high on the list of best-performing cryptocurrency assets in the last week. According to data from cryptocurrency price-tracking platform CoinMarketCap, the asset's price rose by 14.96% behind KLAY (37.58%), TON (37.94%), and HT (25.98%).
Biggest Ethereum holder on network seeing inflow of funds
The crypto market experienced a massive crash this year.
Lido Finance really took the crypto staking market by storm, especially with its liquid staking feature. The Ethereum merge hype that contributed to Lido and LDO's popularity has already died down.
Prominent DeFi tokens, including Maker, Lido, and Curve, have all led the latest crypto rebound, jumping in price.
An Ethereum (ETH)-based altcoin is rallying following news that top US crypto exchange Coinbase has added the project to its listing roadmap. Lido DAO (LDO), a staking service for Ethereum and other blockchain projects, has seen more than a 16% price increase in the days following Coinbase's announcement via Twitter.
Lido DAO Token [LDO] may have led investors on and eventually disappointed them but now may be the time it restores confidence. According to DeFinder, new addresses on the liquid staking protocol seem to be in full anticipation of an LDO resurgence.
LDO price shows strength for the first time after post-merge. LDO bounces from the downtrend, hoping to end its bearish run as the price eyes a possible breakout from the downtrend line.
Over the past 24 hours, tokens underpinning popular DeFi protocols like SushiSwap and Lido Finance have taken a battering.
The Lido Finance [LDO] liquidity pool activity over the last seven days showed that Layer-two (L2) protocols have been outperforming others on the chain. According to the liquid-staking platform, both Arbirtrum and Optimism [OP] showed a higher contribution towards the Lido pool between 3 and 10 October.
For initial deployment to L2, Lido revealed going forward with wrapped, non-rebasing, wstETH.
Lido is now live on layer-2 solutions, Arbitrum, and Optimism, and would allocate 150,000 LDO tokens in rewards per month from Oct 7 for wstETH across each network.
In a series of tweets made by Lido Finance [LDO] on 6 October, the leading Ethereum [ETH] staking platform confirmed the launch of ETH staking on layer two scaling solutions with token bridging to Arbitrum One and Optimism.
Lido integrated support for wrapped staked ETH on Layer 2 networks with a monthly rewards program to incentivize users. The post Lido launches support for staked ETH on Layer 2 integrations appeared first on The Block.
Lido Finance, one of the largest Merge staking providers, has launched on two layer-2 networks, Optimism and Arbitrum that will reportedly improve its accessibility
Lido Finance announced that it is available on Layer-2, and users can bridge their staked Ethereum. Currently, Arbitrum One and Optimism are supported.
The staking provider will offer its users to bridge their stETH to the popular L2 networks and reduce gas fees.
Lido Finance, one of the largest Merge staking providers, has launched on two layer-2 networks, Optimism and Arbitrum.
Lido has around 40% of all the staked ETH on the Beacon Chain.
Users of Ethereum's quicker, cheaper layer 2 networks will have access to the new wrapped staked ETH (wstETH) token.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
New updates for Chainlink, post-merge improvements for Lido, and Maker's impressive revenues have helped these DeFi tokens take flight.
Lido Finance's [LDO] tremendous run between June and August seems to have ended following its recent mediocre performance. Recall that LDO went parabolic in June and continued the surge into August while recording three digits percentage profits.
