Earlier this week, a whale executed a significant trade, selling 150,428 INJ tokens worth $3.29 million and purchasing 2.44 million LDO tokens valued at $3.05 million through Cumberland.

Lido Finance, along with Aave, continues to dominate as one of the most revenue-generating applications.

While Lido doesn’t currently share revenue with its stakers, the protocol has been strategically building up surplus funds, intending to implement revenue sharing with token holders in the future.

Lido’s Weekly Performance (Sept 16-23, 2024)

Total Value Locked (TVL):
Lido’s TVL grew by 10.83%, reaching $25.18 billion, driven mainly by the rise in Ethereum’s price.

Ethereum Staking Activity:
In the past week, Lido saw a net unstaking of 26,528 ETH, signaling some movement away from the staking pool.

stETH Annual Percentage Rate (APR):
The 7-day stETH APR climbed by 27 basis points to hit 3.17%, attributed to increased network activity on Ethereum.

Multichain wstETH:
The amount of bridged wstETH decreased by 2.04%, now standing at 191,498 wstETH. Breakdown across various chains:
– Arbitrum: 85,086 wstETH (-1.56%)
– Optimism: 36,628 wstETH (-0.85%)
– Base: 27,689 wstETH (-5.07%)
– Polygon: 11,967 wstETH (+5.65%)
– BNB: 2,802 wstETH (-31.46%)

stETH in DeFi and Liquidity Pools:
The total amount of stETH in lending pools remained stable at 2.79 million stETH, while liquidity pools experienced a sharp drop of 22.22%, falling to 74.8k stETH.

stETH Trading Volume:
Over the past seven days, the trading volume for stETH and wstETH surged by 27.49%, reaching a total of $920.29 million.

Lido’s performance continues to solidify its position as a leading staking protocol, with strong growth in both TVL and trading volumes.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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