- Lido Finance overtakes Maker to become the protocol with the highest TVL in DeFi.
- The protocol has a majority share in the Liquid Staking Derivatives (LSD) market.
- Lido Finance’s native token (LDO) has pumped over 20% in the last 24 hours.
Liquid staking protocol Lido Finance has become the biggest DeFi protocol by total value locked (TVL), with over $5.95 billion staked in the protocol, according to Defillama. The closest competitor to the protocol in TVL is Maker (MKR) at $5.91 billion, followed by Aave (AAVE) at $3.74 billion. Lido Finance has seen its token (LDO) price appreciate over 20% to $1.16 in the last 24 hours.
Lido Finance’s Dominance
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the thesis for LDO is simply LSDs take off and funds buy it so they can say they have staking exposurethe thesis for COIN is that tardfis looking for gripto exposure will herd into it, instead of BitcoinStrategy and minerslike i said, you guys really arent my exit liquidity https://t.co/6e5pDK3AYd— 찌 G 跻 じ