Lido TVL or total value locked, toppled over to new high lows seen in the third week of this month following the bearish movement of the DeFi market.
LDO has shaved off over 58% of its TVL, which registered an all-time high of $20.4 billion on April 6 but dropped down to roughly $8.6 billion on May 22.
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Lido, a liquidity staking solution, targets orienting people towards staking. It has zero minimum staking requirements which is a great feature, to begin with. The users can freely stake assets in exchange for daily rewards.
A couple of applications and services connected with Lido comprise Anchor Protocol, Curve, MakerDao, 1inch, StakeEther, Ledger, and SushiSwap Onsen.
Lido TVL Down 17%
LDO’s TVL has been dramatically slipping due to the overall crypto market crisis going on for several months now. Its TVL on Ethereum was at $10.32 billion on April 6. After reducing investor interest, its TVL decreased 17% or equivalent to $8.47 billion on May 22.
Meanwhile, its TVL on its all-time high on Terra was at roughly $9.66 billion. However, the figures dropped 99% on May 22, or approximately $14,870 in six weeks.
LDO TVL on Solana used to be hovering at $417.17 million, but it went down by nearly 70% or roughly $126.24 million on May 22.
LDO total market cap at $395 million on the daily chart | Source: TradingView.com
Lido TVL on Moonriver was at $2.57 million during the height of dApps popularity. However, when investor interest waned, the values also crashed by 27%, equivalent to $1.86 million seen in that same period.
After crashing by more than $11 billion, LDO has been demoted from the ranks close to MakerDAO and Curve.
LDO Still Superior In TVL
On the flip side, despite Lido’s drop in terms of TVL, it still is superior in TVL compared to Convex Finance, JustLend, Aave, SushiSwap, Uniswap, Instadapp, PancakeSwap, Compound, and Just Lend.
It opened on April 6, trading at $4.27….
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