Value Locked in Lido Rises Prior to Ethereum’s Merge, LDO Token Jumps 23% Higher in 7 Days – Bitcoin News

In eight days Ethereum is planning to undergo one of the most intensive upgrades since the DAO hard fork in 2016, as The Merge aims to change the network’s consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS). Amid the lead-up to The Merge, the decentralized finance (defi) and liquid staking protocol Lido’s total value locked (TVL) jumped 6.34% this week and the project’s native token increased by more than 23% against the U.S. dollar during the past seven days.

Liquid Staking Service Lido Seeing Demand Prior to The Merge

The Merge is coming and it’s just over a week away from now. Crypto supporters and participants are getting ready for Ethereum’s most notable fork since 2016. The anticipation is building for Ethereum’s most notable fork since 2016. Lido Finance, a defi protocol, has been receiving significant activity over the past seven days.

Lido allows liquid staking to be used to secure their tokens and generate revenue. It also makes it possible to trade the assets and keep them in non-custodial hands. Lido’s wrapped version of the ethereum, called lido-staked ether (STETH), is currently the thirteenth most valuable market capitalization in crypto.

STETH is valued at $6.57 trillion as of September 5, 2022. STETH saw $4.18million in worldwide trading volume during the past day. Lido Finance saw some demand before The Merge, and the total value lock (TVL), increased by 6.34% over the past seven days.

Stats from and both show that Lido’s TVL today is $6.95 billion. $6.78 billion of the $6.95 billion is staked ethereum, according to Lido’s website. According to, Lido ranks second in Makerdao’s defi protocols.

The defi project’s native token lido dao (LDO) jumped 23.4% against the U.S. dollar during the past week. LDO ranks 48 out of over 12,000 crypto assets. The token’s 24-hour global trade volume has reached $56,716,794. There’s a circulating supply of 604,677,030 LDO today and the price has ranged from $1.93 to $2.07 per unit.

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Bonded ETH., Bonding.

Let us know what you think of the actions Lido saw in the past seven days, just before The Merge. Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for News, with over 5,700 articles on the most disruptive protocols currently in development.

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