Lido Finance, known for DeFi-based staking, has announced significant changes in its key metrics. The total value locked has increased by 10.95% to $26.73 billion.
Increase in Total Value Locked
Recently, Lido Finance highlighted on social media platform X a 10.95% rise in its total value locked (TVL). This indicates increased user confidence and participation in Lido’s staking services, despite a outflow of $4,992 in $ETH over the week. The rise is partly due to inflows from other assets, possibly triggered by price volatility in Ethereum or liquidity pursuits elsewhere.
stETH Annual Percentage Rate Changes
The stETH annual percentage rate on Lido hovered around 2.99% over the past 7 days. While this may appear low compared to DeFi earnings during bull markets, it offers a stable option for earning passive income using $ETH without losing liquidity.
Drop in Wrapped stETH on L2 Networks
The amount of wrapped stETH on L2 networks has dropped by 5.62%, to nearly 196,361 $wstETH. Meanwhile, Lido maintains its position as a significant force in decentralized finance, responding to broader market trends and Ethereum's evolution with its L2 scaling solutions.
Lido Finance continues to adapt to shifting market conditions and user demands, remaining a pivotal player in the DeFi space.