The crypto economy is booming and the latest news from the liquid staking protocol Lido is proof of that. On Saturday, Lido tweeted about the largest daily stake inflow to date as 150,000 ethereum was staked, worth more than $240 million. Reports indicate that the ethereum belongs to Justin Sun, founder of Tron.
The Staking Rate Limit is a dynamic mechanism that manages large inflow spikes by reducing the chance of diluting value without explicitly pausing stake deposits. In the last 24 hours, Lido’s total value locked (TVL) experienced a 2.09% spike, according to statistics. Over the last month, Lido’s TVL increased by 9.02% to $8.93 billion.
Of the total $8.93 billion, $8.7 billion is in staked ether (STETH), making it the 12th largest crypto asset in terms of market capitalization. According to Hildobby, a researcher and data analyst at Dragonfly Capital, the 150,000 ETH deposit into Lido was reportedly made by Justin Sun of Tron.
The news of the largest daily stake inflow to date is a testament to the growing popularity of staking and the potential of the crypto economy. As more people become aware of the benefits of staking, more money is likely to be invested in the space. This could lead to further growth in the value of cryptocurrencies and the development of new technologies.
In addition to the large inflow of ether, Lido also announced plans to create a withdrawal feature for ethereum deposits ahead of Ethereum’s Shanghai hard fork, expected to occur in March. This could be a major step forward for the platform and could lead to more people staking their ether.
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