LDO struggles to rally despite Lido’s growth, more inside
Lido is the leading staking platform in terms of net new ETH deposits to the Ethereum beacon chain. The growing deposits are a testament to the platform’s continued growth....
- Lido Finance saw a 12.72% TVL growth from June 19 to June 26, with most of the growth coming from Ethereum layer 2 networks.
- Arbitrum, Optimism, and Polygon were the leaders in contributing staked ETH to Lido.
- LDO's performance has been bearish since the start of June, but it has recently experienced a healthy run-up and is trading at $1.96 at press time.
- LDO's on-chain data revealed a slight dip in supply held by top addresses and a low monthly on-chain volume on June 18, but exchange flows revealed more inflows than outflows.
The article presents a mix of positive and negative news about Lido Finance and LDO. While Lido saw significant TVL growth and was the leading staking platform in terms of net new ETH deposits, LDO's performance has been bearish and it is experiencing sell pressure. However, there is still room for more upside if demand resumes.