Ethereum

Lido DAO

<p>do Finance has reported impressive growth metrics for the week of July 15 to July 22, 2024. The Total Value Locked (TVL) in Lido increased by 9.34%, reaching $34.57 billion. This surge was driven by both an influx of new stake inflows and a rally in token prices, indicating growing investor confidence and market interest in the platform.</p><p>The rise in Lido&#39;s TVL to $34.57 billion was fueled by the staking of an additional 85,792 ETH. This significant growth reflects the heightened market interest and a strong belief in the future potential of Lido Finance. Investors are increasingly looking to stake their <a href="https://blockchainreporter.net/price-prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">ETH</a>, contributing to the overall expansion of <a href="https://x.com/LidoFinance/status/1815666247775744126" rel="noopener noreferrer nofollow">Lido’s </a>ecosystem.</p><h2 id="header-0">stETH APR and Usage</h2><p>The seven-day annual percentage rate (APR) for stETH saw an increase of 8 basis points, bringing it to 3.04%. Despite this rise, the amount of stETH in lending pools and liquidity pools experienced slight declines. Specifically, the amount in lending pools fell by 0.87% to 2.70 million stETH, while liquidity pools saw a decrease of 1.97%, dropping to 80,200 stETH. Conversely, the use of (w)stETH in restaking protocols experienced a modest increase, rising by 0.62% to a total of 1.22 million stETH. This indicates a nuanced usage pattern of stETH across different DeFi applications.</p><p>Over the past week, the trading volume for (w)stETH was reported at $1.19 billion, which represents a 3.39% decrease compared to the previous week. Despite this slight dip, trading activity remains robust, underscoring the continued interest and engagement with (w)stETH in the market.</p><h2 id="header-1">Lido on Layer 2 Solutions</h2><p>The amount of wstETH bridged to Layer 2 (L2) solutions increased by 4.62%, reaching a total of 170,526 wstETH. Within this category, Arbitrum saw an increase to 75,076 wstETH, up by 3.37%. Optimism experienced a slight decline, with 31,906 wstETH, down by 1.30%. Scroll witnessed a significant increase, rising by 9.45% to 25,664 wstETH. Base saw the most substantial growth, with a 11.05% increase to 24,627 wstETH. Polygon remained unchanged at 8,609 wstETH. Linea experienced the highest percentage increase of 28.07%, reaching 3,959 wstETH. However, zkSync saw a decrease of 4.58%, dropping to 678 wstETH. These figures indicate diverse performance across different Layer 2 solutions, highlighting the varying degrees of adoption and usage within Lido’s ecosystem.</p><h2 id="header-2">Lido on Cosmos</h2><p>In contrast, the wstETH bridged to Cosmos experienced a slight decrease, down to 1,793 wstETH, marking a 1.29% drop over the past week. This decrease suggests some shifting dynamics in the utilization of Lido within the Cosmos ecosystem.</p><p>These metrics reflect Lido&#39;s continued expansion and the dynamic movements within the DeFi space. They showcase the platform&#39;s resilience and growing adoption across various protocols and ecosystems, underscoring the robust growth and widespread integration of Lido Finance in the broader cryptocurrency landscape.</p>

Lido Analytics Reveals Significant Growth in TVL and Staked ETH

Table of Contents

BlockchainReporter

Other articles published on Jul 23, 2024

Urgent: Terra Community Must File Crypto Loss Claims For Voting Rights Now

Coinbase Custody Services Will Access 8 New Spot Ethereum ETFs

Investors Track Price Movements in Meme Coins

Forget Dogecoin (DOGE) and Toncoin (TON), The Rollblock (RBLK) Rally Is Melting Faces

Analyst Predicts XRP Could Surge 41,400% to $150, Reveals Chart Patterns

Spot Ethereum ETFs See $300M Trading Activity in First Few Hours

Join our free newsletter for daily crypto updates!