Saturday, July 20, 2024

3 reasons why Lido DAO Token could be on the verge of breaking its downtrend By Cointelegraph

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(ETH) and decentralized finance (DeFi) are present process a seismic shift as the transition to Eth2 and a proof-of-stake consensus mechanism helps to extend the worth proposition for the community which has traditionally has been plagued with scaling points and excessive transaction prices.

Alongside this transition has been the introduction of liquid staking, which helps so as to add utility to DeFi and giving buyers the choice to do extra with their property than simply lock them up indefinitely. Liquid staking could additionally assist buyers construct extra capital environment friendly portfolios.

LDO/USDT 4-hour chart. Supply: TradingView
Whole worth locked on Lido. Supply: Defi Llama.
Historical past of searches for liquid staking. Supply: Google (NASDAQ:) Developments