Lido has also witnessed a growth in its Total Value Locked .has seen a value growth of over 150%. Additionally, the protocol’s Total Value Locked increased when the TVL for competing DeFi protocols stagnated. What might be the cause of this remarkable increase?A daily timeframe analysis of Lido Finance revealed that the asset increased by 160%. The chart also made it evident that the surge began on 1 January. LDO was down over 4% in value during this writing period and was trading at roughly $2.
According to Santiment, sharks have been very active in their accumulation of LDO. Over the past month, LDO addresses with between 100 – one million LDO tokens have accumulated actively.The whales, or owners of one – 100 million LDO, have also been accumulating, but compared to the sharks, considerably more slowly. Although whales have been less eager to accumulate, their combined activities with those of the shark have significantly boosted the price rally.
, the total market capitalization of cryptocurrencies has recently surpassed $1 trillion. A potentially stronger bull trend is anticipated, which is why the current positive general market attitude and trend could motivate accumulation.
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