{"id":330768,"date":"2023-07-28T21:00:02","date_gmt":"2023-07-28T15:30:02","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=330768"},"modified":"2023-07-28T15:28:52","modified_gmt":"2023-07-28T09:58:52","slug":"lido-dominates-eth-staking-but-why-is-ldo-declining","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/lido-dominates-eth-staking-but-why-is-ldo-declining\/","title":{"rendered":"Lido dominates ETH staking, but why is LDO declining?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Lido saw around 600 new users daily.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">In less than three months, Lido added around $3 billion to its TVL.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Lido Finance is boldly positioning itself at the forefront of liquid staking, with recent data indicating a surge in user adoption. The platform has witnessed a remarkable influx of users lately, making it a hotspot for Ethereum [ETH] staking.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 LDOs worth today?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">As this user base expands, one can&#8217;t help but wonder about the prevailing dominance of ETH staking on the platform and how the LDO token was performing amidst this growth.<\/span><\/p>\n<h4><b>Lido sees influx of new users<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Token Terminal&#8217;s 27 July post has shed light on the remarkable on-chain activity on <a href=\"http:\/\/ambcrypto.com\/how-lido-finance-approved-daos-steth-share-among-others\/\" target=\"_blank\" rel=\"noopener\">Lido Finance<\/a>. Daily, the platform is witnessing around 600 new users joining in. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although this number might not seem overwhelming initially, projecting the monthly average of new users with the same figure reveals a different perspective. The potential is substantial.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">?<a href=\"https:\/\/twitter.com\/LidoFinance?ref_src=twsrc%5Etfw\">@LidoFinance<\/a> is acquiring ~600 new depositors per day <a href=\"https:\/\/t.co\/YjGtfKFFi4\">pic.twitter.com\/YjGtfKFFi4<\/a><\/p>\n<p>\u2014 Token Terminal (@tokenterminal) <a href=\"https:\/\/twitter.com\/tokenterminal\/status\/1684520244604174337?ref_src=twsrc%5Etfw\">July 27, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<span style=\"font-weight: 400;\">Considering Lido&#8217;s strong position in <a href=\"http:\/\/ambcrypto.com\/ethereum-staking-touches-new-heights-of-growth-in-2023-powered-by\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> staking, this steady influx of new users can impact the platform&#8217;s dominance within the ETH staking landscape.\u00a0<\/span><\/p>\n<h4><b>Analyzing Lido\u2019s ETH staking dominance<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">As per the latest data from <a href=\"https:\/\/dune.com\/hildobby\/eth2-staking\" target=\"_blank\" rel=\"noopener\">Dune Analytics<\/a>, Lido Finance held an impressive 31.7% of the Ethereum staking market share at press time. The platform has facilitated the staking of over 7 million ETH out of a total of 24 million <a href=\"http:\/\/ambcrypto.com\/ethereum-total-eth-staked-by-validators-surges-to-new-peak\/\" target=\"_blank\" rel=\"noopener\">ETH<\/a> that&#8217;s staked across various platforms. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, over the past six months, Lido has experienced exceptional growth in staking, boasting a remarkable 65% increase in staked ETH. In comparison, the closest competitor in the staking space only managed a 5% increase during the same period.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, a significant turning point for <a href=\"http:\/\/ambcrypto.com\/analyzing-lido-finances-ebb-and-flow-amid-market-unrest\/\" target=\"_blank\" rel=\"noopener\">Lido<\/a> was observed after the Shanghai upgrade, as the platform witnessed the highest staking netflow, surpassing an impressive 2 million ETH. This starkly contrasts with the nearest competitor, who recorded a netflow of approximately 500,000 ETH.\u00a0<\/span><\/p>\n<h4><b>LDO price and TVL trend<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to data from <a href=\"https:\/\/defillama.com\/protocol\/lido\" target=\"_blank\" rel=\"noopener\">DefiLlama<\/a>, the Total Value Locked (TVL) on Lido Finance displayed a consistent upward trend as its staking dominance expanded. As of this writing, TVL surpassed an impressive $14.8 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A closer examination of the TVL revealed a substantial increase of approximately $3 billion between May and July.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here&#8217;s <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\">LDO&#8217;s market cap in BTC&#8217;s terms<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">However, a different picture emerged when observing LDO&#8217;s performance on a daily timeframe. Unlike the positive movement in TVL, <a href=\"http:\/\/ambcrypto.com\/lido-finance-negative-sentiment-overshadows-double-digit-growth\/\" target=\"_blank\" rel=\"noopener\">LDO<\/a> did not experience a similar upward trajectory. It saw a slight decrease during the same period. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">LDO was trading at approximately $1.9 at press time, with a minor increase of less than 1% after several days of decline. Additionally, its short Moving Average (yellow line) acted as a resistance level, indicating its weak price trend.<\/span><\/p>\n<figure id=\"attachment_330947\" aria-describedby=\"caption-attachment-330947\" style=\"width: 1793px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/LDOUSD_2023-07-28_09-45-00.png\"><img decoding=\"async\" class=\"wp-image-330947 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/LDOUSD_2023-07-28_09-45-00.png\" alt=\"LDO\/USD price trend\" width=\"1793\" height=\"764\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/LDOUSD_2023-07-28_09-45-00.png 1793w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/LDOUSD_2023-07-28_09-45-00-300x128.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/LDOUSD_2023-07-28_09-45-00-1024x436.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/LDOUSD_2023-07-28_09-45-00-768x327.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/LDOUSD_2023-07-28_09-45-00-1536x654.png 1536w\" sizes=\"(max-width: 1793px) 100vw, 1793px\" \/><\/a><figcaption id=\"caption-attachment-330947\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p style=\"text-align: center;\">\n","protected":false},"excerpt":{"rendered":"<p>The wave of new users and continuous dominance of the liquid staking landscape has not been enough to spark a positive trend in the price of Lido Finance&#8217;s LDO this year.<\/p>\n","protected":false},"author":76,"featured_media":330949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[3537,3366,3289],"class_list":["post-330768","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-ldo","tag-lido","tag-lido-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lido dominates ETH staking, but why is LDO declining? 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