Staking Tool Lido DAO's LDO Token Climbs Ahead of Binance Listing
Shaurya Malwa - CoinDesk
LDO, the governance token of Lido Finance, surged during Asia's morning as crypto exchange Binance said it will list the token later today.
- LDO jumped to as high as $3.37 from $2.65 yesterday, a 27% increase in the past 24 hours, CoinGecko data show.
- Lido Finance is a staking solution provider that provides services for Ethereum 2.0, Terra, Solana and Kusama. Users who stake with Lido are able to maintain the control and liquidity of their staked tokens.
- Lido is the second-largest decentralized finance (DeFi) platform, with over $15 billion in locked value, data shows. About $10 billion is on Ethereum, and $5 billion on Terra.
- LDO is the governance token of Lido, allowing its holders to take part in community voting and other decisions for the protocol’s future.
- The token will be initially listed against bitcoin (BTC), binance USD (BUSD), and Tether (USDT) at 11:00 UTC.
- LDO remains 53% below all-time highs of $7.30 from last August. The token has an overall market capitalization of $1.15 billion at writing time.
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