The total value locked (TVL) on Lido went past $11 billion on 5 April – Its highest level in 11 months Lido’s share in ETH staking has declined from 61% towards the start of February to 31% at press time Ethereum liquid staking solution Lido Finance’s [LDO] upcoming V2 upgrade will be a significant milestone […]
As part of the V2 upgrade, Lido completed a key rotation ceremony for its withdrawal credentials. This involved signing up of withdrawal credential messages from 0x00 to 0x01. These changes are ready to be implemented on the Ethereum mainnet.
The Lido DAO’s first set of withdrawal keys were generated in December 2020. 0x00 withdrawal credentials have to be migrated to 0x01 to enable partial and full withdrawals after the Shapella hard fork. A key component of Lido’s V2 upgrade will be withdrawals. With the use of this function, Lido users will be able to get ETH at a 1:1 exchange rate for theirThere is presently 5.66 million ETH staked with Lido’s liquid pools, accounting for over 31% of the total ETH staking marketshare. This, as per a
dashboard. Interestingly, Lido’s share has declined considerably from 61% towards the start of February.The total value locked on the DeFi protocol’s smart contracts went past $11 billion on 5 April – Its highest in the last 11 months. Additionally, the TVL jumped by 25% over the previous month, as per data from DeFiLlama.its 8-month high after breaking past $1900 on the charts. Furthermore, an overwhelming majority of Lido’s liquidity, more than 98%, is constituted by ETH deposits.
Though the 30-day MVRV ratio fell considerably in March, it was still positive, suggesting that there was incentive for LDO holders to dump the coin and earn profits. The hike in transaction volumes lent credence to this argument.Read the best crypto stories of the day in less than 5 minutes
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Lido [LDO] hit a key stiff resistance level, can shorting yield gainsDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The RSI headed to the overbought zone, making LDO bullish and ripe for reversal. Significant whale activity could tip the scale for bulls. Lido [LDO] registered an impressive daily and weekly performance. In the […]
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