Lido DAO LDO/USD has rallied over 79.63% in the past seven days and was trading at $1.94 on Monday at 12 a.m. EST.
|Cryptocurrency||Gains||Price (12 a.m.EST)|
What Happened: Apex cryptocurrency Bitcoin BTC/USD gained 3.53% over the past seven days and managed to breach the $17,000 mark while Ethereum ETH/USD rose 9.17% and Dogecoin DOGE/USD soared 7.69% during the same period.
As the largest liquid staking platform for Ethereum, Lido Finance, the company behind Lido DAO is responsible for nearly 30% of all staked ETH tokens. Since the Ethereum network transitioned from proof-of-work to proof-of-stake back in 2022, the demand for the platform has skyrocketed.
The upcoming “Shanghai fork” ushers in a new era of staking, allowing users to withdraw their staked ETH tokens with ease.
Solana SOL/USD gained 63.47% in the past seven days. The rise can be attributed to Solana developers launching a new, Shiba Inu-themed BONK coin BONK/USD, created to rival SHIB SHIB/USD.
Optimism recorded a 43.90% spike, while Zilliqa came in next, gaining 39.96%, and Ethereum Classic rose 36.12% in the past seven days.
Read Next: Bitcoin Pushes Past $17K, Ethereum, Dogecoin Extend Gains: Analyst Predicts Crypto Rally This Week But Don’t Get Carried Away
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