DeFi TVL Hits $106 Billion in Impact with Lido DAO Token

Bittime - According to data from DefiLlama, Total Value Locked (TVL) in decentralized finance (DeFi) protocols has reached its highest level in the past two years, as the overall crypto market rallies.

DeFi TVL Reaches $106.45 Billion

To date, DeFi's TVL stands at $106.45 billion. This figure shows an increase of 96% compared to the beginning of the year, or year-to-date (YTD).

This significant increase signals high optimism for the DeFi sector, where more and more investors are turning to DeFi platforms to take advantage of the various decentralized financial services on offer.

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Lido DAO (LDO) Market Space Had Declined

There was a decline in the Lido market nation, accompanied by an increase in the value of assets locked in various pools in Lido Finance [LDO].

Lido Finance is a leading Ethereum [ETH] staking provider and the largest DeFi protocol by Total Value Locked (TVL). This increase in the value of locked assets has been going on since May 12.

Prior to this period, protocol TVL plunged to a two-month low of $27.43 billion. However, as crypto asset property values ​​rose in May, Lido's TVL followed the trend and grew by 30%.

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The Proportion of Lido in the ETH Staking Ecosystem Has Decreased

Interestingly, the proportion of Lido in the ETH staking ecosystem has decreased. At the time of writing, 28.6% of the total ETH held on BeaconChain was created by Lido, based on data from Dune Analytics. The last time the share of this liquid staking protocol was low was April 17, 2022.

This decline coincided with a reduction in the amount of ETH staked across platforms over the previous few days.

According to data from The Block's information dashboard, the proportion of the total ETH supply staked has fallen 4% from its peak of 27% on May 13, which was the highest value this year.

LDO Demand Soars, Driven by Rising Values ​​and Positive Sentiment

The price of the LDO protocol governance token reached $2.13 at the time of writing, signaling a favorable exchange.

LDO has seen a significant increase in value in the past week, with CoinMarketCap recording an increase of more than 30%.

This surge in value was driven by increased demand for LDO tokens. Data from Santiment shows an increase in the Relative Power Index (RSI) since May 19, with the RSI value reaching 62,149 at the time this news was written. This shows that LDO buying momentum is stronger than selling pressure.

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Soaring LDO Whale Activity

In addition, LDO whale activity has shown a significant increase in recent days. This was evidenced by a surge in LDO whale transactions worth more than $100,000 on May 21, reaching the highest level since March 6. On that day, 131 LDO transactions were recorded with a transaction value above $100,000.

There has been a significant spike in LDO whale activity in the last few days. This is reflected in the increase in the number of LDO whale transactions worth more than $100,000 on May 21, reaching the highest peak since March 6. On that day, 131 LDO transactions were recorded with a transaction value above $100,000.

LDO whale activity shows a rapid increasing trend in recent days. As proof, on May 21, the number of LDO whale transactions worth more than $100,000 reached the highest level since March 6. On that day, 131 LDO transactions were recorded with a transaction value above $100,000.

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