DeFi Project Lido Finance Rose 20% Last Week Ahead of Ethereum Merge
Holders of Lido Finance’s native token, LDO, have seen their holdings grow by over 20% in the past week. Since last Monday, LDO has risen from roughly $1.61 to $1.93 today, marking a total run-up of 20.5% over that period, according to CoinMarketCap. Trading volumes for the token have also skyrocketed over the past 24 hours, rising roughly 19%.
The most popular trading pairs have been Binance’s stablecoin BUSD, Tether’s USDT, and Bitcoin. The majority of the trading action is happening on Binance, FTX, Gate.io, and KuCoin. In the last 24 hours, however, the price has dropped by around 0.25%. And since its all-time high of $18.62 in November 2021, LDO has fallen a whopping 89.43%. In exchange for the deposit, users earn a staked version of their holdings; depositing Ethereum, for example, earns you “staked Ethereum” or stETH.
Source
https://t.me/DeFi_Ethereum
