Lido Finance [LDO] emerges as the king of DeFi, but there is a problem

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

The total value locked on Lido Finance went past $8 billion in January. Despite the feat, the protocol’s native token was down 5.82% at press time. Lido Finance [LDO] had a rollicking start to 2023 after it eclipsed MakerDAO [MKR] to become the biggest decentralized finance [DeFi] protocol, as per DappRadar. Moreover, the total value […]

market share in the ETH staking market was concerning. As per Dune Analytics, its share was just 29% at press time. Moreover, it faced increased competition from centralized exchanges like Coinbase.The protocol’s native token didn’t react positively to this big milestone. LDO dipped by 5.82% at the time of writing with a substantial drop in trading volume as well, data from CoinMarketCap showed.

A look at technical indicators revealed the gloomy picture. The Relative Strength Index had formed a bearish divergence with the price for the latter part of January. Though it was above neutral 50 at press time, there was a high chance of strengthening selling pressure in the coming days. The Chaikin Money Flow was deep in the negative territory, which gave a strong indication of bearish sentiment.Subscribe to get it daily in your inbox.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Freeland to meet provincial and territorial finance ministers in Toronto | Globalnews.caThe meeting comes at a tense time for many Canadian consumers, with inflation still running hot and interest rates much higher than they were a year ago.
Source: GlobalNational - 🏆 81. / 51 Read more »

Provincial and territorial finance ministers to meet in TorontoDeputy Prime Minister and Finance Minister Chrystia Freeland is hosting an in-person meeting today with the provincial and territorial finance ministers in Toronto. Stop sending BILLIONS of my money to foreign wars Come meet a real life Nazi. Hope they ask about there part in the wef!
Source: CTVNews - 🏆 1. / 99 Read more »

Politics This Morning: Finance ministers huddle in TOPolitics This Morning: Finance ministers huddle in TO (subs) cdnpoli So now there's 6 brain cells at work?
Source: TheHillTimes - 🏆 11. / 79 Read more »

Freeland meets with provincial, territorial finance ministers in Toronto - BNN BloombergDeputy Prime Minister and Finance Minister Chrystia Freeland is hosting an in-person meeting today with the provincial and territorial finance ministers in Toronto to discuss issues including the transition to a clean economy, challenges in healthcare systems across the country, and the current economic environment. What's the point if she never answers any question? Just send the generic scripts by email and save yourself and others a trip. Perhaps a preemptive gesture to soften us up before the Emergencies Act report comes out which will probably highlight the role Biden's Inflation Reduction Act played in its invocation. If the meeting was to address countering US IRA spending and attracting EU friendshoring this cabinet has already failed Quebec and Ontario. Mexico is getting over 2/3 of planned investment (FT). Even South Carolina was surprised here:
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Freeland meets with provincial, territorial finance ministers in TorontoDeputy Prime Minister and Finance Minister Chrystia Freeland is hosting an in-person meeting today with the provincial and territorial finance ministers in Toronto to discuss issues including the transition to a clean economy, challenges in healthcare systems across the country, and the current economic environment. She's in town? This explains why it's so cold today. Our next PM, as corrupt as the present one. Feeling cute might crush the peasants later
Source: CP24 - 🏆 30. / 67 Read more »