Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Ethereum cools down as Bitcoin Strances: the rotation game of Smart Money Decoding!

2025-05-19

Interlink and Blazpay Partner to improve the user experience in Web3 with AI

2025-05-19

Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Interlink and Blazpay Partner to improve the user experience in Web3 with AI

    2025-05-19

    Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

    2025-05-19

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-19

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

    2025-05-19

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17
  • Analysis

    Dogecoin (Doge) is struggling to support profit while Meme Coin cools Mania

    2025-05-19

    Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

    2025-05-19

    XRP – Price is struggling to keep the ground – breakdown or breathing break?

    2025-05-19

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»This is how Lido’s TVL reacted when Solana went down
Altcoins

This is how Lido’s TVL reacted when Solana went down

2023-10-18No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

  • Lido’s TVL fell by 5% in between October 9 and 16.
  • This is mainly due to the protocol’s decision to stop working on Solana.

Leading liquid staking protocol for Ethereum [ETH]Lido Finance [LDO], saw its total value locked (TVL) drop by 5% between October 9 and 16. The decline was largely due to Lido’s decision to cease operations on Solana [SOL].


Is your portfolio green? View the LDO profit calculator


Following a community vote on the matter, Lido announced on October 16 the decision to cease operations on Solana, as its continued existence on the Layer 1 (L1) blockchain has become a financially unviable venture.

Furthermore, in its latest weekly update on X (formerly Twitter), the protocol noted that the TVL drop was also a result of “falling token prices.” Between October 9 and 16, the values ​​of ETH, Polygon [MATIC]and SOL fell by 4%, 8% and 6% respectively.

Rough period of seven days for Lido

Despite previously driving net new deposits to the Ethereum Beacon Chain for several weeks, Ether deposits made via Lido to the Proof-of-Stake (PoS) network fell significantly over the reporting period.

With a net new stake of 48,480 ETH in Ethereum via Lido between October 9 and 16, the decentralized finance protocol (DeFi) trailed Coinbase and Binance, which recorded net new deposits of 56,000 ETH and 52,000 ETH respectively, according to data from Dune Analytics.

Source: Dune Analytics

Furthermore, the annual percentage rate (APR) of the ether established in the protocol [stETH] assessed on a seven-day moving average witnessed a decline. Lido said the decline was “due to a combination of low gas prices and reduced EL rewards.”

See also  ETH Holds Over $1700: What Should You Expect Now?

During the reporting period, Lido’s staking APR fell 4%, data from Dune Analytics shows. At the time of writing, Lido’s sETH APR stood at 3.44%, down 52% from its peak of 7.17% on May 12.

Source: Dune Analytics

In terms of Layer 2 (L2) platforms, data from Dune Analytics showed an increase of 0.46% and 3.24% in the amount of sETH bridged to Arbitrum [ARB] and Polygon, respectively.

On the other side: optimism [OP] recorded a 1% decrease in the amount of bridged sETH during the reporting period.

New demand for LDO trickled in last week

An on-chain assessment of LDO’s network activity recorded a surge in new demand for the DeFi token over the past week. According to data from Santimentthe daily number of unique addresses involved in LDO transactions increased by 9%.

Similarly, the daily number of new addresses created to trade LDO tokens increased by 23% over the same period.

Source: Santiment


How much are 1,10,100 LDOs worth today?


The influx of new demand fueled a 7% rally in the value of LDO between October 11 and 16. However, the token’s price peaked at $1.64 on October 16, after the Lido decision on Solana was announced.

The price of the token has been trending downward since then. LDO was trading at $1.54 at the time of writing CoinMarketCap.

Source: CoinMarketCap

Source link

Lidos Reacted Solana TVL
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Dogecoin ready to cry? Falling wig ousting hints during a rally

2025-05-19

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

2025-05-19

The chance will increase to 83%, sec decision in June?

2025-05-19

Solana – Shorts are piling up above $ 170 – Can Sol Bulls force a pinch?

2025-05-18
Add A Comment

Comments are closed.

Top Posts

Will it take a dollar collapse for Bitcoin to reach $200,000? Bitwise CIO explains…

2024-10-31

California sets 40 m with ‘Bitcoin Rights’ in the jobs of digital assets

2025-03-31

Bitcoin’s rising user base reveals this about BTC’s future

2023-07-11
Editors Picks

Coinbase says there are five key areas of the crypto market to watch in 2025

2024-12-23

Legal expert reveals what the next one is for Ripple -Rechtszaak

2025-03-02

BNB Price Will Outperform: Is a Breakout Coming Soon?

2024-09-18

Crypto Black Monday: What’s Behind the Crypto Crash and What to Expect Next?

2024-08-05

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Ethereum cools down as Bitcoin Strances: the rotation game of Smart Money Decoding!

Interlink and Blazpay Partner to improve the user experience in Web3 with AI

Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,426.04-1.44%
  • ethereumEthereum(ETH)$2,399.94-4.33%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.30-3.71%
  • binancecoinBNB(BNB)$637.82-1.27%
  • solanaSolana(SOL)$161.01-6.16%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.215692-3.73%
  • cardanoCardano(ADA)$0.72-4.52%
  • tronTRON(TRX)$0.263994-3.01%
  • suiSui(SUI)$3.62-5.68%
  • chainlinkChainlink(LINK)$15.11-3.61%
  • avalanche-2Avalanche(AVAX)$21.57-6.21%
  • stellarStellar(XLM)$0.279222-3.51%
  • hyperliquidHyperliquid(HYPE)$25.20-6.15%
  • shiba-inuShiba Inu(SHIB)$0.000014-5.03%
  • unus-sed-leoUNUS SED LEO(LEO)$8.60-1.25%
  • hedera-hashgraphHedera(HBAR)$0.185820-3.94%
  • bitcoin-cashBitcoin Cash(BCH)$380.63-4.51%
  • the-open-networkToncoin(TON)$2.89-6.64%
  • litecoinLitecoin(LTC)$94.86-3.59%
  • polkadotPolkadot(DOT)$4.47-6.17%
  • moneroMonero(XMR)$342.96-0.08%
  • bitget-tokenBitget Token(BGB)$5.06-3.61%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000013-4.85%
  • piPi(PI)$0.70-3.73%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.71-3.54%
  • bittensorBittensor(TAO)$392.17-6.50%
  • aaveAave(AAVE)$219.36-3.54%
  • nearNEAR Protocol(NEAR)$2.66-3.75%
  • aptosAptos(APT)$5.00-3.68%
  • okbOKB(OKB)$51.67-2.53%
  • ondo-financeOndo(ONDO)$0.89-4.67%
  • kaspaKaspa(KAS)$0.104119-7.08%
  • ethereum-classicEthereum Classic(ETC)$17.74-3.60%
  • internet-computerInternet Computer(ICP)$5.02-4.26%
  • gatechain-tokenGateToken(GT)$21.24-1.32%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.49-3.45%
  • crypto-com-chainCronos(CRO)$0.093026-6.14%
  • mantleMantle(MNT)$0.73-1.74%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.228334-4.40%
  • vechainVeChain(VET)$0.026925-5.00%
  • render-tokenRender(RENDER)$4.37-5.68%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • ethenaEthena(ENA)$0.344807-9.18%
  • filecoinFilecoin(FIL)$2.75-4.22%
  • algorandAlgorand(ALGO)$0.212557-4.24%
  • cosmosCosmos(ATOM)$4.62-4.51%
  • bitcoinBitcoin(BTC)$102,426.04-1.44%
  • ethereumEthereum(ETH)$2,399.94-4.33%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.30-3.71%
  • binancecoinBNB(BNB)$637.82-1.27%
  • solanaSolana(SOL)$161.01-6.16%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.215692-3.73%
  • cardanoCardano(ADA)$0.72-4.52%
  • tronTRON(TRX)$0.263994-3.01%
  • suiSui(SUI)$3.62-5.68%
  • chainlinkChainlink(LINK)$15.11-3.61%
  • avalanche-2Avalanche(AVAX)$21.57-6.21%
  • stellarStellar(XLM)$0.279222-3.51%
  • hyperliquidHyperliquid(HYPE)$25.20-6.15%
  • shiba-inuShiba Inu(SHIB)$0.000014-5.03%
  • unus-sed-leoUNUS SED LEO(LEO)$8.60-1.25%
  • hedera-hashgraphHedera(HBAR)$0.185820-3.94%
  • bitcoin-cashBitcoin Cash(BCH)$380.63-4.51%
  • the-open-networkToncoin(TON)$2.89-6.64%
  • litecoinLitecoin(LTC)$94.86-3.59%
  • polkadotPolkadot(DOT)$4.47-6.17%
  • moneroMonero(XMR)$342.96-0.08%
  • bitget-tokenBitget Token(BGB)$5.06-3.61%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000013-4.85%
  • piPi(PI)$0.70-3.73%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.71-3.54%
  • bittensorBittensor(TAO)$392.17-6.50%
  • aaveAave(AAVE)$219.36-3.54%
  • nearNEAR Protocol(NEAR)$2.66-3.75%
  • aptosAptos(APT)$5.00-3.68%
  • okbOKB(OKB)$51.67-2.53%
  • ondo-financeOndo(ONDO)$0.89-4.67%
  • kaspaKaspa(KAS)$0.104119-7.08%
  • ethereum-classicEthereum Classic(ETC)$17.74-3.60%
  • internet-computerInternet Computer(ICP)$5.02-4.26%
  • gatechain-tokenGateToken(GT)$21.24-1.32%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.49-3.45%
  • crypto-com-chainCronos(CRO)$0.093026-6.14%
  • mantleMantle(MNT)$0.73-1.74%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.228334-4.40%
  • vechainVeChain(VET)$0.026925-5.00%
  • render-tokenRender(RENDER)$4.37-5.68%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • ethenaEthena(ENA)$0.344807-9.18%
  • filecoinFilecoin(FIL)$2.75-4.22%
  • algorandAlgorand(ALGO)$0.212557-4.24%
  • cosmosCosmos(ATOM)$4.62-4.51%