Lido DAO (LDO), an Ethereum-based Liquid Staking Derivatives (LSD) system, has published its performance report for the month of July, highlighting some of its outstanding accomplishments since the Shapella Upgrade. Its total value locked (TVL), according to the Lido study, reached a high of $15 billion in July, the highest level since May 2022.
Although the Shapella Upgrade, which allows investors to withdraw their staked ETH tokens, is intended to reduce the amount of business that Lido receives, the opposite effect was finally seen. Some essential growth measures, such as the overall number of users, are also highlighted in the Lido report.
The overall number of users using the LSD platform for the first time has increased to a peak of 10,000 new stakers, according to Lido DAO. The majority of these new stakers had a clear goal in mind to promote growth, and their kind deed resulted in additional ETH coins being pledged; Lido expressed confidence that the total number of Ethereum coins staked on its platform will probably exceed eight million.
As the dApp with the greatest total value locked (TVL) on the Ethereum network, Lido DAO continues to be the most popular LSD protocol.
Lido metrics and antagonistic price
There are several disparately bad data in Lido’s performance report, but the good numbers often provide a crucial shield as the company tries to stand apart.
Despite this, the LDO token has been doing far worse than expected. Despite evidence of large price movements in the past, LDO’s current value is barely $1.84, down around 1.14% over the previous day and by more than 4% year to date.
Lido is a protocol that is well-insured for the future as the larger Ethereum ecosystem continues to develop.
