Lido Finance, a decentralized finance (DeFi) platform, has recently surpassed the $20 billion Total Value Locked (TVL) milestone. This notable feat marks the first time Lido has reached such a substantial valuation since April 2022, signifying a remarkable resurgence in its popularity within the crypto space.
Unprecedented Growth – Lido Attracts Over 200,000 ETH Stakers in November
Adding to its impressive achievements, Lido witnessed a surge in user adoption, with over 200,000 Ethereum (ETH) stakers joining the platform in the month of November alone. This surge in participation highlights the growing confidence and interest in Lido as a preferred DeFi platform among the crypto community.
stETH Sees a 10.34% Surge, Reaching 3.52 Million Tokens
The native token of Lido, stETH, experienced a significant uptick, registering a notable 10.34% increase and reaching a total supply of 3.52 million tokens. This surge in stETH’s value further underscores the platform’s appeal and the positive sentiment surrounding its ecosystem.
The Ethereum Community’s Skepticism: Unpacking Doubts Surrounding Lido’s Dominance
While Lido’s recent achievements have undoubtedly positioned it as a major player in the DeFi landscape, there have been growing concerns within the Ethereum community regarding the disproportionate influence of Lido. Some community members are questioning the implications of Lido’s dominance and its potential impact on the decentralized nature of the Ethereum network.
