At $11 Billion, Lido Loses 58% of Its All-Time High TVL

At $11 Billion, Lido Loses 58% of Its All-Time High TVL

Following the bearish trend of the DeFi market, Lido’s TVL tipped over to new high lows in the third week of this month.

Lido has lost more than 58% of its TVL, which peaked at $20.4 billion on April 6 before plummeting to around $8.6 billion on May 22.

Lido is a liquidity staking solution that aims to get people interested in staking. To begin with, it has no minimum staking restrictions, which is a fantastic advantage. Users can stake assets in exchange for daily rewards.

Anchor Protocol, Curve, MakerDao, 1inch, StakeEther, Ledger, and SushiSwap Onsen are some of the Lido-related applications and services.

Due to the ongoing crypto market turmoil, LDO’s TVL has been steadily declining for several months. On April 6, its TVL on Ethereum was $10.32 billion. On May 22, its TVL fell 17%, or $8.47 billion, as a result of lower investor interest.

Meanwhile, Terra’s TVL was at $9.66 billion at its all-time peak. However, on May 22, the figures decreased by 99%, or $14,870, in just six weeks.

On May 22, the LDO TVL on Solana was hovering at $417.17 million, but it had dropped about 70%, or $126.24 million.

During the peak of dApp popularity, Lido TVL on Moonriver was valued at $2.57 million. When investor interest dropped, however, the price plummeted by 27%, equating to $1.86 million throughout the same time period.

LDO has been demoted from the ranks of MakerDAO and Curve after collapsing by more than $11 billion.

On the other hand, despite Lido’s decrease in TVL, it still outperforms Convex Finance, JustLend, Aave, SushiSwap, Uniswap, Instadapp, PancakeSwap, Compound, and Just Lend in terms of TVL.

It began trading at $4.27 on April 6. However, the coin sank to $1.23 on May 12 and does not appear to be moving over $1.33 today. Based on such estimates, the LDO price might drop by as much as 68% in just six weeks.

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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