Lido Crashes, Locking in $11B in Total Value (TVL)

Lido was the second most valuable decentralized application (Dapp) throughout April. Lido lost 57 percent of its all-time high TVL on April 6, according to Be[In]Crypto Research. On that day, TVL was worth around $20.4 billion, while on May 22, it was worth around $8.6 billion. Lido is a liquidity staking protocol to introduce staking to millions of individuals. Users can stake their assets for daily rewards on a protocol with no minimum staking requirement. StakeEther, Curve, MakerDao, Ledger, Anchor Protocol, SushiSwap Onsen, and 1inch are among the services and applications connected with Lido. Lido (LDO) Crashes $11 Billion in Total Value Locked (TVL)#Bitcoin #Ethereum #BTC #ETH #Crypto #CryptoNewshttps://t.co/kDi2ctkcx1 pic.twitter.com/OgAt9atQPi — DailyCrypto (@DailyCrypto_t) May 23, 2022 Reason of Declining Due to a general market slump in the total value locked on the blockchains where TVL is used, it has dropped dramatically. On April 6, the value of TVL on Ethereum was over $10.32 billion. Due to dwindling investor interest, this sum fell 17 percent to $8.47 billion on May 22. On the day of its all-time high in value locked, LDO TVL on Terra was valued at $9.66 billion. Terra’s entire worth was $14,870 on May 22, a 99 percent decrease in six weeks. On May 22, the TVL on Solana was around $417.17 million, down 69 percent from the Lido milestone of $417.17 million. At the pinnacle of the dApp’s highest value locked on ...