Lido DAO

<ul><li>Lido Finance&#39;s Total Value Locked (TVL) surged by 10% to $16.15 billion, driven by ETH and MATIC price increases.</li><li>Despite the gains, Lido faced its first net outflows, withdrawing 35,360 ETH, causing market concerns.</li><li>Lido saw staking APR decline to 3.96%, but witnessed growth in bridged stETH on L2 platforms.</li></ul>Lido Finance, the leading liquid staking protocol for Ethereum, experienced a significant uptick in its Total Value Locked (TVL) by almost 10% over the past week. The surge in TVL, amounting to approximately $16.15 billion at the time of reporting, was attributed to an 8% increase in Ethereum (ETH) and a 5% rise in Polygon (MATIC) prices between October 23 and 30. This surge marked an 11% increase in Lido&#39;s TVL over the last month, according to data from <a href="https://defillama.com/protocol/lido" rel="noopener noreferrer nofollow">DefiLlama</a>.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/51575c19fb914f489eccedc2deec26a3.png" />However, amidst the soaring market values, Lido Finance faced a surprising challenge. For the first time in months, the protocol recorded net outflows. <a href="https://dune.com/LidoAnalytical/Lido-Finance-Extended" rel="noopener noreferrer nofollow">Data</a> from Dune Analytics revealed a net withdrawal of 35,360 ETH between October 23 and 30, making Lido the protocol with the highest ETH withdrawals during this period. This surprising development raised concerns and speculation among investors and analysts, highlighting a shift in market dynamics for the protocol.Read full article at <a href="https://cryptotale.org/lido-finance-witnesses-10-surge-in-tvl-despite-first-net-outflows-in-months/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Lido Finance Witnesses 10% Surge in TVL Despite First Net Outflows in Months

CryptoTale

Other articles published on Nov 2, 2023

Europe’s Largest Bitcoin Mining Firm Northern Data Acquires 575M Euros

Coinbase (COIN) Offers Regulated Futures Trading to US Retail Customers

Was $1 Million Multichain Transfer to Binance an Inside Job?

BRICS Advancing To Create Non-US Dollar Oil Trade

Sky Mavis And Act Games Partnered For A Japanese Game

Massive Cardano (ADA) Price Prediction to $30: Is it too Outrageous?

Join our free newsletter for daily crypto updates!