Lido’s market cap surge- Is it a bubble? Investigating factors at play

January 23, 2023

By Suzuki Shillsalot

Read Lido’s Price Prediction 2023-2024

• Lido’s market cap spike may not be sustainable due to the declining performance of its protocol.

• Decreasing APR, user count, and whale interest may impact Lido’s long-term success.

Lido’s market cap grew significantly over the last few days, according to recent data provided by Messari. The growth in market cap was attributed to the hype around the upcoming Shanghai Hardfork on Ethereum.

However, this spike in the market cap may not be sustainable in the long term.

Not APReciated

Over the last 14 days, Lido’s market cap increased by 47.7%. However, over the last few months, the APR provided by the Lido protocol to its users decreased steadily.

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