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<p data-pm-slice="1 1 []"><strong>Lido Finance</strong>, a decentralized protocol introducing the concept of <strong>liquid staking</strong>, has reached a significant milestone in its fourth year of operation. For the first time, the platform has reported a net profit of $5 million, with $99 million in revenue and $94 million in costs for 2024. This marks the first profitable period in Lido’s history, as reported by crypto advisory firm <strong>Steakhouse Financial</strong>.</p>
<h2 id="ethereum-price-drives-profitability">Ethereum Price Drives Profitability</h2>
<p>According to Steakhouse Financial’s founder Adrian Vasiljevic, Lido’s profitability aligns closely with the rise in <strong>Ethereum (ETH)</strong> prices. ETH has surged 67% since the start of 2024, climbing from $2,350 to over $4,000. This significant price increase has been a major driver of Lido’s revenue growth.</p>
<p>The growing interest in liquid staking services among both retail and institutional investors has further fueled this growth. As of January, the total locked ETH in Lido’s protocol increased by 5%, reaching 9.81 million ETH. Lido’s stETH product remains highly popular, allowing users to maintain liquidity while staking their ETH.</p>
<h2 id="focus-on-ethereum-and-decentralization">Focus on Ethereum and Decentralization</h2>
<p>In a strategic move, Lido Finance has ended its services on the <strong>Polygon POS network</strong> to focus entirely on the Ethereum ecosystem. This decision followed discussions on the Lido DAO forum and a governance vote involving LDO token holders. Lido’s team cited scalability challenges on Polygon as a key factor behind this shift.</p>
<p>Additionally, Lido has launched a community staking module enabling users to operate as node operators on the Ethereum mainnet without requiring permission. This innovation strengthens Lido’s commitment to decentralization.</p>
<h2 id="ldo-token-performance">LDO Token Performance</h2>
<p>Lido’s native token, <strong>LDO</strong>, has surged by 82% over the past 30 days, reaching $2.11. However, the token experienced a 7.7% drop in the last 24 hours, bringing its market capitalization to $1.9 billion. This strong performance reflects the growing demand for Ethereum staking and Lido’s expanding market influence.</p>
<h2 id="a-bright-future-for-lido-finance">A Bright Future for Lido Finance</h2>
<p>Lido’s profitability milestone underscores the rising demand for Ethereum staking services and the platform’s ability to adapt to market dynamics. As Lido continues to diversify its growth strategies, it remains a dominant player in the liquid staking market.</p>
<p>For the latest updates on cryptocurrency trends and developments, stay tuned to <a href="https://deythere.com/" target="_blank" rel="noopener noreferrer nofollow"><strong>Dey There</strong></a>.</p>

Lido Finance Achieves Profitability as LDO Token Surges by 82% in 30 Days

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