Lido DAO (LDO) has declined by more than 40% in the last 30 days with more room to fall in the coming days amid a potential sell-the-news event, i.e. the Merge.
Lido DAO Ether deposits surge 160% in 2022
Lido DAO is Ethereum’s biggest staking service, having deposited over 4.14 million of the blockchain’s native asset, Ether (ETH), into the Ethereum 2.0 smart contract on behalf of its users, according to the latest data.
ETH 2.0 total value staked by provider. Source: Glassnode
In comparison, Lido DAO’s total staked amount was around 1.6 million ETH at the beginning of this year. The boom reflects a growing demand for Lido DAO services ahead of Ethereum’s scheduled transition from proof-of-work to proof-of-stake via the Merge on Sep. 15.
LDO, a governance token in the Lido DAO