Lido (LDO) Lido is a multi-chain liquid staking solution. It | Crypto Great | Bitcoin | DeFi

Lido (LDO)

Lido is a multi-chain liquid staking solution. It allows individuals to stake through its platform and receive tokens as collateral that can be used in other DeFi ecosystems.

While the broader market has experienced volatility, the Lido token is up over 100% from its February lows. One factor helping boost LDO’s momentum is the rising popularity of liquid staking as we get closer to Ethereum’s merge to Proof-of-Stake.

Prior to liquid staking, token holders had to choose between earning rewards through single staking on the network and removing them from circulation, or putting them to work in DeFi protocols through paired liquidity pools. With liquid staking, investors can benefit from the best of both options by staking tokens to help secure the network along with the ability to earn a yield in DeFi by pledging staked assets as collateral.

If Lido adds multi-chain assets for liquid staking, it could open the door for further price appreciation for the platform’s native LDO token.

Furthermore, as the cryptocurrency ecosystem continues to embrace Ethereum’s transition to Proof-of-Stake, liquid staking is likely to rise in popularity, which may result in further future gains for LDO.