Can Altcoin Continue Its Rise With A 400% Increase?

Can Altcoin Continue Its Rise With A 400% Increase?

of the crypto community Ethereum (ETH) and Merge looking forward to the big ups Lido Finance (LDO)managed to escape from sight. But despite this, Lido, overshadowed by ETH, continues to make big strides in the DeFi market, with liquid staking protocols now more attractive than ever. Even staking providers like Lido, ETH Merge It is expected to grow even more as we approach.

Can Altcoin Continue Its Rise With A 400% Increase?
Source: IntoTheBlock

As a result of this LidoIts revenues are expected to increase by 60-70% with the increase in stake returns. Also, stETH is expected to grow steadily during this time as it is known that those who staked ETH will not be able to withdraw their funds until 6-12 months before the Shanghai fork takes place. This means a greater revenue stream is provided by Lido Finance. As we reported, given that the returns will increase, the amount staked is likely to increase as well. This is expected to further raise the above estimates.

Greater things are expected in the future

Besides all this Lido Financealong with DragonFly, also offers its own offer for the Treasure Diversification. presented. Under the final terms, DragonFly will receive 1 percent of the 2 percent originally offered. The proposal was widely accepted among the Lido community, with more than 26 million votes in favor of the proposal.

Lido’s treasury is mostly in LDO and is heavily dependent on the token’s price performance. This is any LDO price means that its decline may be critical to the existence of the project. The sale of the token to Dragonfly Capital aims to diversify the treasury of the Lido DAO, which is still ongoing after the initial rejection of the offer.

He also shared the Lido weekly figures. Lido’s DeFi TVL hit as much as $7.49 billion two days ago after experiencing a 7.6 percent price increase over the week. The update adds the aforementioned growth to the dramatic increase in ETH price in recent days. tied up.

Another reason for the growth is thought to be the increase in liquid staking in all Lido networks. Highest bounce during the week with 17.4 percent Polygon (MATIC) holdings, and MATIC with 14.4 percent. Left (LEFT) had watched.

Source: DeFiLlama

What awaits LDO now?

So, what does the fact that Merge, which has been making the headlines lately, is getting closer day by day and the development is accelerating, what does it mean for LDO, Lido’s management token? Analysts are expecting LDO, one of the best-performing cryptocurrencies in July, to grow even further with Merge approaching, up 398 percent since July 1.

LDO, which has experienced a decrease of over 5 percent in the last 24 hours, is trading at $ 2.30 at the time of writing.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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