DeFi

Momentum

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/lido-dominates-defi-sector-with-steady-growth/" data-wpel-link="internal">Lido Dominates DeFi Sector with Steady Growth</a><br></p>
<p style="text-align: justify">In the realm of cryptocurrency, Lido (<strong>LDO</strong>), a <a href="https://coin-turk.com/sessiz-kalanlar-defiprime-turk-kripto-toplulugu-asla-unutmayacak" data-wpel-link="internal">DeFi</a> platform, has demonstrated its dominance with solid growth, maintaining its position at the peak. Despite its established status, the Lido protocol shows no signs of slowing down. This situation has also made LDO a significant player in the DeFi space. So, what are the expectations at this point?</p> 
<h2 style="text-align: justify" id="growing-momentum-in-altcoin-ldo">Growing Momentum in Altcoin LDO</h2> 
<p style="text-align: justify">The increase in Lido’s activity is evidenced by a notable rise in the number of daily active addresses on the network. Latest data reveals a surprising 718% increase in daily active users over the last three months, with a significant 40.9% increase in revenue during the same period.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-311882 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/altcoin-ldo-cointurk-scaled.jpg" alt="" width="2560" height="1838"></p> 
<p style="text-align: justify">This growth not only demonstrates the platform’s robust expansion but also highlights the positive correlation between user engagement and <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> success.</p> 
<h2 style="text-align: justify" id="drivers-behind-the-growth">Drivers Behind the Growth</h2> 
<p style="text-align: justify">The increase in network activities is partly attributed to a significant decrease in Average Fees Per User (AFPU) on the <strong>Lido</strong> network. Last month, AFPU experienced an 88% decrease, creating a more cost-effective environment and potentially attracting a broader user base.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-311884 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/kullanim-cointurk.webp" alt="" width="2048" height="1050"></p> 
<p style="text-align: justify">In addition, an increase in development activities within the <strong>Lido</strong> ecosystem indicates positive momentum. The number of core developers actively contributing to Lido increased by 18% last week, while there was a notable 54.5% increase in code commitments. All these developments promise enhanced protocol stability and security.</p> 
<h2 style="text-align: justify" id="challenges-and-solutions">Challenges and Solutions</h2> 
<p style="text-align: justify">Despite its success, challenges for stETH are emerging, and indicators point to a slowdown in network growth. However, recent collaborations that facilitate the entry of stETH’s wrapped version into <strong><a href="https://en.coin-turk.com/expanding-trading-horizons-binance-adds-five-new-spot-trading-pairs/" data-wpel-link="internal">Binance</a></strong> provide hope for increased adoption in the near future.</p> 
<p style="text-align: justify">On the other hand, when looking at the LDO token price, a decline is observed. Accordingly, LDO is trading at $2.76, down 15.64% on a monthly basis. In parallel with this decline, the percentage of large addresses holding the token has also decreased. This suggests a waning interest among whales.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-311885 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/ldo-usdt-cointurk.png" alt="" width="1564" height="798"></p> 
<p style="text-align: justify">In conclusion, amidst market fluctuations, <strong>Lido</strong> continues its ascent with increased user participation and development activities. While challenges exist for stETH and the LDO token, strategic collaborations and market dynamics offer avenues for future growth and resilience in the DeFi environment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/lido-dominates-defi-sector-with-steady-growth/" data-wpel-link="internal">Lido Dominates DeFi Sector with Steady Growth</a></h5>

Lido Dominates DeFi Sector with Steady Growth

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