– Ethereum’s Shapella upgrade impacted LSD tokens positively as prices surged.

-Activity on the protocols rises as well, though Lido experienced some minor setbacks.

The highly anticipated Shapella Upgrade took place on 12 April, which generated considerable speculation about the potential impact on the prices of ETH and other tokens in the Liquid Staking Derivatives [LSD] market.

Read Lido’s [LDO] Price Prediction 2023-2024

Many were worried that the impact of this event on ETH and other tokens would be the same as when the Merge happened and prices fell drastically.

However, as time passed, the opposite happened. ETH and other LSD tokens, such as Lido [LDO] and Rocket Pool [RPL], have witnessed improvements in their price over the last few days.

The protocols get affected

There was a positive impact on the protocol’s health as well. For instance, active users on the Lido protocol increased by 11.9% in the last seven days. As a result, the earnings made by the protocol surged by a whopping 278.2% during the same period.

Rocket Pool had the same impact, as the network’s daily active users surged by 30% over the last month.

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Author: Himalay Patel

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