Ethereum

Lido DAO

Beacon

Billion

<p><strong>Ethereum deposited to Beacon chain through Lido middleware has declined by more than 4% in the past few weeks.</strong></p>
<p><strong>Lido DAO</strong> provides staking infrastructure to multiple blockchain services and is most notably used for Ethereum. The platform allows users to stake Ethereum and get stETH in return. The protocol runs on Ethereum with the help of smart contracts that process users’ deposits. The platform’s native token is LDO, which also serves as the governance token for the Lido Dao. The holders of LDO can participate in the governance proposals and vote on critical decisions.</p>
<p>The platform aims to make staking more widely accessible to a wide range of users and negates technical difficulties. The platform users do not need to have 32 ETH to run their own validator; they can start with any amount of ETH.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-is-lido-dao-market-share-eaten-by-eigen-layer-strong"><strong>Is Lido Dao Market Share Eaten By Eigen Layer?</strong></h2>
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 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="334" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-146-1024x334.png" alt="" class="wp-image-205365" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-146-1024x334.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-146-300x98.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-146-768x250.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-146-750x244.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-146-1140x371.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-146.png 1188w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p class="has-text-align-center">Source: Inflow share of ETH by Dune</p>
<p><strong>Lido Dao</strong> provides liquid staking for various blockchains, including <a href="https://www.thecoinrepublic.com/2024/05/07/sec-decided-to-deploy-decision-on-spot-ethereum-etf-is-regulatory-hesitating/" target="_blank" rel="noopener noreferrer nofollow">Ethereum </a>and Polygon, with no lockup and daily rewards. One can stake any amount of ETH and get stETH, which can be used across the Ethereum and L2 blockchains. The current APR for ETH is 2.9%, and for the polygon is 4.2%. Lido Dao currently has 28.8% of the share in net deposits of ETH, with 9347196 Ethereum deposited. The market share of the protocol has declined by 3% in the last month.</p>
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 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="212" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-147-1024x212.png" alt="" class="wp-image-205366" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-147-1024x212.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-147-300x62.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-147-768x159.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-147-750x155.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-147-1140x236.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-147.png 1393w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p class="has-text-align-center">Lido price relation with inflow by Scanscope</p>
<p>If we compare the last one year of net deposits and withdrawals with the price, one can see that it has remained fairly constant. Meanwhile, the overall net withdrawals from the protocol have surged by 200% compared to the net deposits. In the last 7 days, Ether.fi has seen 9000 ETH more deposited than in the comparison. Meanwhile, the TVL of the <strong>Lido Dao</strong> has been observing a constant decline from $39 Billion to $27 Billion. The revenue of the protocol has also declined from the highs of $440k to a low of $253k in the last one month.</p>
<p>Meanwhile, as of now, a total of 172 proposals have been submitted to the DAO, showcasing an engaged community.</p>
<h3 class="wp-block-heading" id="strong-are-bears-pushing-ldo-down-strong"><strong>Are Bears Pushing LDO Down?</strong></h3> 
<p><a href="https://in.tradingview.com/chart/LDOUSD/f3CKK7sx</a> by <a href=" https: in.tradingview.com u ritika_tcr rel="noopener noreferrer nofollow">Ritika_TCR</a> on <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow">TradingView.com</a></p> 
<p><strong>Lido Dao</strong> has a market cap of $1.54 Billion and is ranked 55th in the CMC. The protocol has a supply of 100 Million, of which 89.9% is circulating in the market.LDO is currently trading near the value of $1.74, with a drop of 2.559% in the intraday session.&nbsp; LDO token price is currently trading below the 50 and 200 EMA with a negative crossover in the past. Suppose the price surges above the EMA; a strong upside trend in price can be observed. On the daily chart the asset price is trading in a downside parallel channel. The upside momentum of the Lido token price can see a halt near $2.Meanwhile, the downside momentum of the price can observe a halt near $1.5.</p>
<p>The RSI of Lido Dao is near 36, with a downside slope suggesting its presence in the neutral zone. The overall sentiment of RSI and MACD is bearish.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p><strong>Lido Dao</strong> is currently observing a decline in the overall market share with an increase in the net outflow. Meanwhile, the overall developers and commits of the protocol have taken a hit in the past few weeks. LDO token price is currently in a bearish momentum but can observe a new high in the future.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.</p>

Will the Continued Bearish Trend Push the LDO Price Below $1?

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