Lido now has the highest DeFi TVL as LDO increases 17%

Ethereum (ETH) staking protocol Lido (LDO) is present the ascendant DeFi protocol based connected the full worth of assets locked (TVL) successful its ecosystem, according to DeFillama data.

Lido’s TVL overtook that of MakerDAO (MKR) successful the past 24 hours aft rising by 0.57% to $5.90 billion. According to the information aggregator, this places Lido’s dominance astatine 15.23% of the full DeFi TVL of $38.68 billion.

Meanwhile, Lido’s website shows that its TVL is $5.95 billion. According to the site,  $5.86 cardinal successful Ethereum were staked via its platform. Other assets, similar Polygon (MATIC), Solana (SOL), Kusama (KSM), and Polkadot (DOT), person a combined worth of $83.7 billion.

A Dec. 20 tweet from Lido said staking deposits grew crossed each chains but Kusama. The level highlighted that the antagonistic terms show of the autochthonal tokens of these chains contributes to its TVL performance.

Lido is the ascendant staking platform

Dune analytics data shows that Lido is besides the ascendant staking work supplier — it controls 29.11% of the market.

This is up of different competitors, including large centralized exchanges similar Coinbase, Kraken, and Binance, which cumulatively power astir 27% of the staked Ethereum.

Several analysts antecedently highlighted that Lido’s dominance of Ethereum staking could spot the blockchain web astatine risk.

LDO is up 17%

CryptoSlate information shows that Lido’s autochthonal token is up by implicit 17% successful the past 24 hours to $1.16 arsenic of property time.

LDO is besides 1 of the best-performing integer assets successful the past 7 days, rising by astir 20%.

The token was 1 of the ERC-20 assets reported to person been sold by Alameda-related wallets. According to the report, implicit 700,000 tokens were sold for 601 ETH. Besides that, Aave laminitis Stani Kulechov has sold his full LDO holdings for a full of $2.4M

The station Lido present has the highest DeFi TVL arsenic LDO increases 17% appeared archetypal connected CryptoSlate.