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Lido (LDO) Establishes ‘Overwhelming Dominance’ in Ethereum Liquid Staking Ecosystem: Glassnode

by The Dao Makers
July 8, 2023
in Altcoin
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Lido (LDO) has achieved “overwhelming dominance” within the Ethereum (ETH) liquid staking sector, in line with the crypto analytics agency Glassnode.

In a brand new evaluation, Glassnode notes that Lido clocks the very best provide, liquidity, and integration community results of any liquid staking supplier.

Lido goals to permit customers to stake ETH with out locking belongings or sustaining infrastructure. When staking on the platform, customers obtain Lido Staked Ether (stETH) on a 1:1 foundation representing their staked ETH, and stETH balances can be utilized like common ETH to earn yield or rewards.

Glassnode notes that Lido is main different suppliers when it comes to every day deposits.

Supply: Glassnode

Lido can also be in entrance when it comes to circulating provide, in line with the analytics agency.

“When evaluating to different liquid staking opponents, Lido stands out because the clear chief within the sector with its provide 16 occasions larger than its nearest competitor. That stated, the provision of rETH, which is the liquid staking token of Rocketpool, has been rising thrice quicker than Lido’s because the starting of this yr.”

Supply: Glassnode

LDO is buying and selling at $2.06 at time of writing. The Thirty third-ranked crypto asset by market cap is down 4.5% up to now 24 hours however up practically 12% up to now week.

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Disclaimer: Opinions expressed at The Day by day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses it’s possible you’ll incur are your duty. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in online marketing.

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Tags: DominanceEcosystemEstablishesethereumGlassnodeLDOLidoLiquidOverwhelmingStaking
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