Lido DAO (LDO) price has skyrocketed by roughly 400% month-to-date to reach $2.22 on July 28, its highest level in over two months.
LDO price has benefited majorly due to its association with Ethereum, the leading smart contract platform by total-value-locked (TVL) and market capitalization.
Notably, LDO serves as a governance token inside the Lido DAO ecosystem, a project that offers staking services for Ethereum.
$ETH move bringing the entire ecoystem with it.
— Luke Martin (@VentureCoinist) July 27, 2022
The staking practice allows users to earn passive income without needing to sell their coins. It also helps validate transactions and secure the blockchain. In return, the protocol