$120,427.00
0.80%$3,469.37
2.83%$3.50
13.98%$723.06
1.42%$175.75
0.68%$0.999885
-0.00%$0.215612
-0.45%$3,466.59
2.85%$0.315912
2.68%$0.816104
4.99%$0.502734
8.11%$46.71
-1.87%$120,407.00
0.89%$4,190.06
2.81%$4.01
-0.22%$17.21
1.87%$0.269137
11.81%$496.86
-1.98%$22.81
-0.27%$3,721.26
2.85%$0.00001438
-2.05%$8.92
0.64%$3,474.28
2.91%$3.18
0.17%$101.55
2.35%$0.999765
-0.04%$0.999912
0.02%$45.64
0.64%$4.20
-0.92%$336.46
1.62%$120,617.00
0.92%$1.001
-0.04%$0.00001328
-4.59%$4.78
0.05%$8.84
-3.95%$319.99
-2.68%$422.08
-4.54%$0.116185
6.01%$2.79
-0.38%$5.24
-1.48%$0.439383
-2.18%$1.18
0.06%$1.041
6.91%$20.02
-0.71%$5.64
-1.26%$214.18
0.81%$47.21
-0.55%$1.00
0.00%$0.00003567
-4.71%$0.316133
8.59%$0.781146
5.30%$0.093008
-0.74%$0.376931
-0.97%$0.445236
-1.66%$0.02605532
0.14%$4.82
-0.67%$0.999981
0.04%$4.11
0.24%$0.236351
-0.31%$3,468.53
2.83%$0.03216811
2.69%$0.345872
-5.10%$0.767413
-2.22%$9.96
-0.80%$4.51
0.17%$1.10
-3.31%$16.09
1.27%$2.70
-0.90%$1.059
0.02%$120,340.00
0.78%$0.00491839
-15.07%$1.86
2.07%$186.29
0.51%$0.079279
-2.26%$113.11
-2.52%$3,638.04
2.85%$0.545133
-0.57%$3,957.73
2.96%$4.93
0.48%$11.88
1.25%$1.47
8.37%$0.997006
0.04%$0.999994
0.02%$0.02049932
12.21%$1.93
-6.22%$0.998592
8.32%$1.001
0.14%$13.89
-0.07%$1.34
2.39%$0.83793
0.89%$4.51
-0.18%$3,653.36
3.06%$3,717.41
3.06%$0.078145
-0.68%$0.00013094
-3.35%$0.710444
-1.79%$0.37597
-2.76%$1.82
-0.41%$3,756.45
3.03%$3,661.56
3.29%$1.001
0.02%$120,123.00
0.77%$1.068
-4.57%$0.552716
-1.37%$0.105033
-1.17%$0.999085
0.02%$120,171.00
0.58%$197.86
0.74%$722.63
1.46%$122,252.00
2.17%$3,342.96
-0.29%$0.160198
2.44%$1.033
9.65%$0.237821
0.76%$27.06
0.17%$1.11
0.08%$2.60
2.75%$0.565439
-0.24%$11.03
42.48%$230.32
0.79%$0.999889
0.02%$0.853672
-2.29%$0.0184932
-1.06%$0.01706119
1.20%$3,336.40
-0.21%$0.913496
-5.51%$0.321533
-0.31%$2.92
-2.98%$3,713.58
2.75%$3,474.35
2.97%$0.128479
-1.24%$45.73
2.96%$3,634.79
2.50%$111.83
0.01%$0.0000007
0.02%$0.263594
-1.79%$0.657498
-1.66%$4.16
-3.01%$1.94
-2.94%$3.67
13.33%$0.998566
0.04%$120,255.00
0.77%$2.06
-1.76%$1.00
0.00%$0.407309
-0.81%$0.01855124
-2.78%$0.00000162
-7.04%$1.088
-0.51%$0.457895
-2.74%$0.324381
-0.58%$3,474.23
2.95%$0.061283
-3.60%$0.364992
-9.38%$119,503.00
0.53%$0.00868174
-1.71%$0.00641615
0.09%$0.997876
0.02%$29.08
-2.26%$1.64
-0.32%$0.00971496
11.54%$120,443.00
0.93%$46.72
-1.62%$1.001
-0.04%$0.557553
-0.60%$1.33
0.10%$0.216331
-0.20%$3,474.99
3.00%$3,689.74
2.79%$0.672273
-1.34%$0.074057
6.42%$0.101338
-2.66%$0.999882
-0.01%$1.16
0.04%$3,831.86
2.96%$0.202599
5.16%$0.139947
-6.01%$1.001
0.17%$0.656454
-0.88%$0.49384
0.08%$0.415864
-0.18%$1.54
3.47%$7.37
-3.52%$3,456.49
2.63%$6.76
-0.10%$0.441622
-8.65%$16.49
-1.23%$0.432434
-1.56%$0.223172
0.05%$49.46
-3.02%$3,799.76
2.88%$0.00000046
3.26%$46.71
-1.40%$0.327124
-1.44%$7.86
-2.00%$0.094173
5.99%$0.060701
-2.01%$0.00002198
-2.04%$2.62
-1.77%$10.75
0.01%$3,476.83
3.08%$0.00416178
-4.66%$1.73
-2.90%$3,475.85
3.03%$0.04226018
-1.26%$1.093
0.01%$0.999905
0.00%$121,371.00
2.05%$0.997434
0.58%$0.154855
-2.03%$1.002
0.19%$0.404205
-3.96%$0.00571436
-4.75%$0.86817
-0.45%$0.566017
-0.17%$0.00755715
0.78%$4,182.65
2.52%$192.69
0.98%$1.00
0.01%$1.38
-2.33%$0.03786088
0.68%$12.67
3.77%$141.81
1.14%$0.559312
-0.83%$0.367093
-2.62%$0.01906059
0.44%$4.42
-9.46%$120,353.00
0.81%$27.67
-0.24%$0.00006362
-2.39%$0.999985
0.02%$0.03280895
-2.29%$21.20
-0.24%$0.762742
10.68%$0.826292
1.09%$0.746899
-1.37%$22.75
-0.37%$0.236064
-0.30%$3,645.86
2.84%$0.00398576
0.46%$0.00373645
2.26%$1.12
-6.60%$0.318717
-11.18%$3,903.54
2.61%$1.001
0.13%$0.999294
0.00%$0.0000015
2.44%$0.30489
-3.76%$7.15
-0.63%Reading
The native token behind Lido Finance surged more than 10% over the past 24 hours, jumping from roughly $4.25 to a peak of $4.82, according to data pulled from CoinMarketCap. LDO has since retraced some and is now trading at $4.56, up 6.7% on the day.
The project’s token is a governance token, letting holders vote on proposals and adjust fee parameters within Lido Finance.
Today’s move is only the latest in what has been a very bullish week for LDO; in the last seven days, the token has risen by over 25%. On March 28, the token was trading at $3.66. Looking back even further, LDO has more than doubled its value over the past month.
The bullish price action behind this little-known cryptocurrency is likely tied to the Ethereum 2.0 upgrade, in which the number two network will shift from a proof of work (PoW) consensus mechanism to a proof of stake (PoS) one.
This shift has been called “The Merge” and is expected to occur by the end of Q2 “or possibly slipping into Q3,” according to ConsenSys CEO and Ethereum co-founder Joe Lubin.
ConsenSys CEO Joe Lubin talked about Ethereum 2.0 timing and impact, the power of DAOs, and gave his honest take on NFTs, Solana, Polygon, and Biden's crypto executive order in an extensive fireside chat with Decrypt's Dan Roberts at Camp Ethereal 2022 in Wyoming.
Lido Finance is a staking project that lets users deposit their Ethereum holdings and earn a yield. This is different than providing liquidity on a decentralized exchange (DEX); instead, these deposits are used to help secure the PoS-based Ethereum 2.0, which was recently rebranded to “Consensus Layer.”
Like miners on a PoW network, PoS networks need validators to ensure that the network is approving legitimate transactions and rejecting fraudulent transactions. And unlike miners, which demand a huge amount of computing hardware and energy, users can become validators by “staking” the network’s native cryptocurrency.
In the case of Ethereum, users can become validators by staking 32 ETH.
At today’s prices, though, that comes out to a whopping $111,921 and is prohibitively expensive for most users.
Additionally, by staking that 32 Ethereum, you’ve locked it up, and it cannot be redeemed until the transition has been executed. So, it’s a lot of money to have in limbo for any period.
Lido attempts to solve this.
Users can deposit any amount of Ethereum they like and earn 3.9% paid out in Ethereum. And though you cannot unstake this Ethereum, you receive another cryptocurrency in exchange that acts as a receipt for your activity. This token is called “staked Ethereum” or “stETH.” One stETH is equal to one ETH.
And as stETH finds more adoption within the broader decentralized finance (DeFi) ecosystem, users can earn additional yield on this asset on platforms like Curve and Aave.
Increased adoption coupled with anticipation around the Ethereum Merge event has likely been the key reason for LDO's rise.
Ethereum exchange-traded funds generated more than $726 million in investments on Wednesday, the highest level in their nearly year-long trading history, as the price of their underlying asset rose to its highest level since January. The nine funds have collectively netted $2.3 billion over a nine-day streak of inflows dating to July 3, according to UK asset manager Farside Investors. Ethereum was recently trading just below the $3,500 mark on Thursday, continuing its own recent momentum with a...
The price of XRP rose to a record high on Thursday, soaring past a seven-year-old milestone amid broader momentum for altcoins in the cryptocurrency market. The Ripple Labs-linked coin was recently changing hands around $3.41, rising more than 36% over the past week, according to crypto data provider CoinGecko. The previous record was $3.40, set all the way back in January 2018. Ethereum and Solana had also outperformed Bitcoin’s weekly 5.5% rise, meanwhile jumping 21% and 8%, respectively. The...
BlackRock aims to include staking in its spot Ethereum exchange-traded fund, according to a rules change request submitted on Thursday by Nasdaq, where the fund is listed, to the U.S. Securities and Exchange Commission. Adding staking functionality to the iShares Ethereum Trust (ETHA) would allow the product, which debuted last July, to earn yield by using the held ETH to validate transactions on the Ethereum blockchain, according to the 19b-4 proposal. Multiple issuers, including Fidelity, Gray...
