Binance Plans To List Lido DAO (LDO)

Binance Plans To List Lido DAO (LDO)

Popular cryptocurrency exchange platform, Binance, marketplace is gearing up for the listing of Lido DAO (LDO) tokens, according to a notice on its official website. LDO to BTC, BUSD, and USDT trading pairings will be added to the listing.

Lido is a liquid staking platform for ETH 2.0 that was launched on October 15, 2020, and is supported by industry-leading stake providers. It claims to allow users to stake their ETH while participating in on-chain activities without freezing assets or managing infrastructure.

According to statistics, Lido is the second-biggest decentralized finance (DeFi) market, with a total value of approximately $15 billion. Ethereum now has a market capitalization of $10 billion, while Terra has a market capitalization of $5 billion. LDO is Lido DAO’s governance token, allowing holders to participate in public polling as well as other protocol-related decisions. At 11:00 UTC, the token will be exchanged for Bitcoin (BTC), USDT, and BUSD.

Lido enables consumers to get yields from staked assets in addition to passive income created by staked coins. Traders can use their coins as security for borrowing and reap bonus from borrowers by staking assets on the website.

Furthermore, as Lido continues to add new assets, the ETH rewards have fallen. It has made Lido users more concerned. According to CoinMarketCap, trade volume has increased by more than 100 percent in the last 24 hours, sending the LDO value to a record high of $3.51. At the time of writing, the price is $3.39.

The demand for Lido appears to be increasing as staking interest grows. As the total-value-locked (TVL) surged over $20 billion, Lido momentarily became the leading DeFi protocol. Lido is now ranked second, with a TVL of $15.70 billion. The value of Ethereum on Lido is $10.15 billion.

From February through April, per DefiLIama, Lido saw consistent inflows into the project. At the top, Lido Finance has amassed almost $13 billion in TVL. Lido has lost nearly $3 billion in TVL as a result of the significant cryptocurrency market drop, but the value of the governance token has remained same.

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.

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Jai Hamid

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