) activity. Ethereum fees and revenue also reached a 30-day peak on Nov. 8, posting $9.1 million in fees and $7.3 million in revenue.Unique depositors into the Lido protocol have reached 150,000, demonstrating that Lido is continuing to attract new users. The increase in unique deposits comes afterLido unique deposits. Source: Dune Analytics
Daily active users and Lido token holders are also increasing on Lido. According to data from Token Terminal, daily active users hit a 90-day high of 837 on Nov. 17 further bolstering the platform’s positive momentum.Related: DeFi platforms see profits amid FTX collapse and CEX exodusWhile fees, deposits and revenue continue to increase for Lido, the market cap of LDO tokens is not keeping pace.
As mentioned above, Lido hit a record amount of fees on Nov. 10, at the same time the market cap decreased from $1.2 billion to $663.7 million., during this same period, the price of LDO tokens dropped from $1.80 to a low of $0.90.Despite the market-wide downturn, Lido is showing strong fundamentals on multiple fronts. The steady uptick in DAUs, revenue and new unique participants are all key components for assessing growth and sustainability within a DeFi platform.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
yeah matic very unbothered by the ftx shitstorm and still waaaaay above the june bottom while every other shitcoin tanked.
ummm polygon's bd team and matic's price movement are doing pretty fckn well i'd say
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Why is no one mentioning how much the hacker still got left 😅🤔😉