DeFi

Lido And New Updates Bring Positive Signals

After a challenging period with massive selling pressure from funds and stories about liquidity risk, Lido DAO’s stETH has made significant changes recently.

After the crash of 3AC and Celsius, stETH became a fatal weakness when the asset’s liquidity was alerted. However, after 3AC and Celsius filed for bankruptcy, along with liquidation activities to reduce debt leverage, stETH was able to shake off the temporary selling pressure.

On July 18, Lido DAO said it would deploy stETH to Layer-2 solutions, helping this asset have more applications while reducing the cost of interaction for users.

Also, on July 18, FTX announced the listing of transactions for Lido (LDO).

Previously, after taking a vote, the DAO organization canceled the proposal “Limit staking level on ETH 2.0”. This step is expected to help Lido avoid slowing growth in the near future.

The Lido community is also discussing the proposal of Dual Governance, a solution to help increase the application of stETH in the future.

At the time of writing, LDO is also the token with a strong rebound in the market, with a 128.5% increase in the past seven days.

LDO daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

9 seconds ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

24 minutes ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

1 hour ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

3 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

3 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

4 hours ago

This website uses cookies.