LDO token of staking tool Lido DAO rises ahead of Binance listing

Published on 09/May/2022 12:09

LDO rose 27% in 24 hours, with most of the increase occurring in the Asian morning.

LDO, the governance token from Lido Finance, surged in Asia during the morning after crypto exchange Binance announced it would list the token later in the day.

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LDO jumped from $2.65 yesterday to as high as $3.37, a 27% increase in the last 24 hours, CoinGecko data shows.

Lido Finance is a staking solutions provider that offers services for Ethereum 2.0, Terra, Solana and Kusama. Users who stake with Lido can maintain control and liquidity of their stacked tokens.
Lido is the second largest decentralized financial platform (DeFi) with more than $15 billion in value, data shows. About $10 billion is on Ethereum, and $5 billion is on Terra.
LDO is Lido's governance token, which allows its holders to participate in community votes and other decisions about the protocol's future.
The token will initially trade against Bitcoin (BTC), Binance USD (BUSD), and Tether (USDT) at 11:00 UTC.
LDO is still 53% below its all-time high of $7.30 from last August. The token has a market cap of $1.15 billion at the time of writing.