- DeFi TVL now sits at its best since May 20,22.
- Lido’s market share in ETH staking is decreasing.
According to the report, total value (TVL), across all decentralized financial (DeFi) protocol protocols, has reached a new two-year peak amid the market’s general rally. DefiLlama’s data.
DeFi TVL stood at $106.45bn as of press time. On a year to date (YTD) basis, this figure has grown by 96% from the start of the year.
Lido sees a decline in market share
Amount of assets in pools Lido Finance [LDO]The leading Ethereum [ETH] TVL’s DeFi protocol, the biggest stake provider by TVL and largest DeFi protocol in general, is on a steady rise since May 12th.
Before this time, TVL for the protocol had fallen to $27.43billion, a 2-month-low. Lido TVL grew by 30% as cryptocurrency values began to climb in May.
Lido has seen its share of the ETH staking eco-system decline. According to data provided by BeaconChain, at the time this article was written, Lido accounted for 28.6% all ETH deposits made on the BeaconChain. Dune Analytics. Last time that the share of liquid staking protocols was so low, was 17th April 2022.
The decline in ETH is part of a broader downward trend across platforms that has been observed over the last few days.
The Block data can be used to retrieve information dashboard The chart shows that since the peak at 27% YTD on May 13th, the percent of ETH supply staked is down by 4%.
LDO sees surge in demand
As of press time, the LDO token (the governance token for the protocol) had traded hands at $2.13. According to CoinMarketCapDuring the last seven days, the value of altcoins has increased over 30 percent.
Demand increased during this period, which is why the value spiked. Santiment’s Since 19 May, data indicated a surge in Relative Stability Index (RSI). LDO’s RSI, which was 62.149 when we went to press, showed that selling pressure had a greater impact than buying momentum.
Here’s a list of realistic and not-so-realistic images. LDO’s market cap in BTC’s terms
In the last few days, LDO whale activities have risen. On 21st of May, LDO whale transaction counts that exceed $100,000 reached their highest level since March 6th.
In that one day alone, LDO transactions worth over $100,000 totaled 131.
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Source: ambcrypto.com