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

LDO jumped 27% in 24 hours, with most of the gain coming in the Asian morning.

AccessTimeIconMay 9, 2022 at 10:09 a.m. UTC
Updated May 9, 2022 at 3:05 p.m. UTC

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

LDO, the governance token of Lido decentralized autonomous organization (DAO), surged during Asia's morning after crypto exchange Binance said it will list the token later Monday.

  • LDO jumped to as high as $3.37 from $2.65 Sunday, a 27% increase in the past 24 hours, CoinGecko data show.
  • Lido Finance is a staking system 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 DAO, 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.

UPDATE (May 9, 10:15 UTC): Changes to first paragraph to read Lido DAO instead of Lido Finance.


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Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

CoinDesk - Unknown

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.