HomeUncategorizedLido fundamentals shine even as the wider crypto market struggles to regain traction By Cointelegraph

Lido fundamentals shine even as the wider crypto market struggles to regain traction By Cointelegraph

November 21, 2022

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Lido fundamentals shine even as the wider crypto market struggles to regain traction

The crypto market has witnessed a turbulent few weeks after the FTX collapse but Lido Finance, a liquid staking protocol, has been a bright spot amidst the chaos. According to Data from DeFiLlama, Lido protocol has earned $1 million or more in fees daily since October 26.

Let’s analyze the on-chain fundamentals to see why this trend has continued.

Lido total deposits. Source: Dune Analytics
fees and revenue. Source: Token Terminal
Lido unique deposits. Source: Dune Analytics
Lido tokenholders and daily active users. Source: Token Terminal
Lido’s circulating market cap and fees. Source: Token Terminal