• The Liquid Staking Derivative (LSD) market, led by Lido protocol, dominates DeFi with significant TVL growth.
• Lido faces challenges with declining APR and LDO token performance.

The Liquid Staking Derivative (LSD) market has emerged as the dominant force in the decentralized finance (DeFi) sector, spearheaded by the Lido [LDO] protocol. As the sector experienced exponential growth, questions arose regarding the future trajectory of Lido.

The impact of Lido

Since the beginning of the year, LSD witnessed a staggering $10 billion increase in Total Value Locked (TVL), and Lido protocol has played a pivotal role in driving this growth. Particularly, the interest in stETH, the protocol’s offering, has significantly contributed to the surge in TVL.

The increased popularity of Lido has led to a substantial rise in daily active users on the network. Data from Token Terminal revealed a notable 23.8% increase in users over the past 30 days. Correspondingly, Lido’s revenue has also witnessed an impressive surge of 53.2%.

However, despite its ongoing success, Lido may face challenges in the future. One potential hurdle is the declining Annual Percentage Rate (APR) offered by Lido, which could impact the protocol’s growth and appeal.

Go to Source to See Full Article
Author: Himalay Patel

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details