Staking Tool Lido DAO's LDO Token Climbs Ahead of Binance Listing

Shaurya Malwa - CoinDesk

2022-05-09 10:09

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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