Lido DAO token (LDO) can’t stop soaring as Ethereum liquid staking provider’s total value locked reaches $8.2 billion
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According to DefiLlama, with a total value locked at $8.23 billion, Lido is right now the most dominant protocol in the decentralized finance field. Its current dominance rate is 17.4%, in a $47.3 billion market. Of course it is to be expected that with the greening of cryptocurrency prices, the TVL of all protocols has also turned green, but even here Lido has outperformed all of its competitors, from small to large, with a monthly growth rate of 38%.
Currently there are 832.97 million LDO in circulation out of the one billion tokens available, entitling holders to participate in the Lido DAO. However, the market capitalization of the project is still 3.7 times less than the blocked value, and the LDO price is 56.2% below its all-time high.