to become the number one DeFi protocol as increased Ether staking activity in expectation of Ethereum’s Shanghai Upgrade drove traffic to the protocol.
Within six months, Lido’s TVL doubled while Maker dealt with the aftermath of the momentary depeg of its DAI stablecoin. This occurred in March following the unexpected collapse of Silicon Valley Bank, which temporarily caused USDC to lose its parity to the dollar.A look at the protocol’s performance in the last week revealed a 7.35% decline in Lido’s TVL during that period.
Regarding the protocol’s native token LDO, downward market pressure caused its price to slide by 10% in the last week. At press time, the altcoin exchanged hands at $1.64, according to
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