Lido’s impact on Ethereum staking, revealed

boasted the largest market share in ETH staking at press time. It commanded around 31.9% of the ETH stake, solidifying its dominant position in the industry.

These statistics indicated notable growth for the platform over different time frames. In the past week alone, Lido experienced a 2% increase in its market share, showcasing a continuous upward trajectory. Looking at a broader timeline, Lido has seen a substantial 7% growth in the past month and an impressive 63% surge over the past six months.An intriguing trend was observed when examining the Total Value Locked in Lido, as depicted by. The chart revealed that its TVL experienced an upward trajectory following the activation of ETH withdrawal functionality.

This aligned with data from Glassnode, which reported that users staked more on withdrawal activation. Also, as of this writing, the TVL in Lido was over 14 billion.However, the native token of the platform, LDO, has been experiencing a less favorable trend based on its daily timeframe chart. As of this writing, LDO was trading at approximately $1.89, reflecting a decline of nearly 1% in its value.

Furthermore, the token closed at a loss of over 7% in the previous trading session. This price movement has further declined the Relative Strength Index , indicating an emerging bear trend.

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