Lido Finance: Decline in TVL, re-emergence of bears, and everything in between

Lido Finance: Decline in TVL, re-emergence of bears, and everything in between

February 1, 2023

By Abiodun Oladokun

Read Lido’s [LDO] Price Prediction 2023-24

Due to the fall in prices of some native coins, Lido’s TVL declined in the last week.

The buying pressure for LDO has declined significantly, and a price drawback might be on the horizon.

Lido Finance [LDO], a prominent liquid staking protocol, experienced a drop in its Total Value Locked (TVL) in the past week as a result of a decrease in the values of the native coins within its operating networks, including Ethereum [ETH], Polygon [MATIC], Solana [SOL], Polkadot [DOT], and Kusama [KSM].

According to data from cryptocurrency price tracker CoinMarketCap, ETH’s price fell 4% in the last seven days. Likewise, the prices of SOL, DOT, and KSM fell by 3%, 6%, and 5%, respectively.

At press time, Lido’s TVL was $8.01 billion, having declined by 3% in the last week.

The decline in TVL on Lido occurred despite the launch of a new ETH/LDO factory pool, which gained over $16 million in the last week.