Earlier this month, Lido became the largest decentralized finance (DeFi) app by total locked-in money (TVL), surpassing MakerDAO.
Users have locked $7.8 billion on Lido, with most of that coming from Ethereum, with a small amount coming from other blockchains, including Solana.
In addition, from December 31 to the present The price of the LDO token has soared 108% to $2.01, while its 24-hour average volume has increased 802%.
Lido’s latest climb comes ahead of Ethereum’s Shanghai upgrade, the first hard fork since the Merge in September. with an upgrade to Shanghai scheduled for March. And it will allow those who stake ETH to withdraw their tokens. which is currently locked on the Ethereum network.
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