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Ethereum (ETH) is known for being one of the leading stake protocols, and Lido Finance (LDO) recently shared an update on X (formerly known as Twitter). The update emphasized the increase of over 10% in the total locked value (TVL) due to the rise in prices of ETH, MATIC, and SOL.
Between September 25th and October 2nd, there was a surge in cryptocurrency prices. ETH saw a 10% increase, MATIC saw an 11% increase, and SOL saw a notable 23% increase. According to DefiLlama’s data, Lido’s TVL has increased by 5% in the past month, reaching around $14.82 billion.
Latest Developments for Ethereum
The data shows that Ethereum experienced two different seasons. Ethereum was in a leading position in terms of investment transactions in the Beacon Chain. On the other hand, there was a 48% decrease in ETH transactions through Lido.
Dune Analytics’ data revealed more detailed information. The number of ETH staked through Lido reached 40,768 ETH. However, the interesting part is the decrease in staked ETH. Looking at the previous week, the number indicated almost double, representing approximately 78,656 ETH.
Recent Developments in LDO Price
At the time of writing, there has been an increase in LDO price, trading at $1.59. According to 21milyon.com, the DeFi token has experienced a 1% value increase in the last 24 hours.
Spot market data suggests a decrease in accumulation tendency among daily investors. At the time of writing, the Relative Strength Index (RSI) and Money Flow Index (MFI) of the token indicated a downward trend. This may suggest the end of the accumulation period for LDO sales.
