Binance, the world’s largest crypto exchange by trading volume, has announced that it will list the Lido DAO (LDO) starting today. Binance opens trading pairs LDO/BTC, LDO/BUSD and LDO/USDT, explaining that transactions can be made tomorrow.
Lido DAO and ETH 2.0
Lido DAO is known as the ETH 2.0 liquid staking platform. The platform allows you to place ETH without blocking or transferring assets to the infrastructure. For this bet, traders buy sETH tokens representing ETH and use them as ETH to receive a reward for the bet. In addition, Lido instills confidence in its investors, both with the help of Ethereum and with a secure reward for stacking in real time.
In addition, the members of the Lido DAO manage the Lido to increase efficiency and stability. Lido DAO uses the native LDO token for voting. In this voting system, the number of LDO tokens is important, and the right to vote increases in direct proportion to the number. With the listing of LDO on Binance, interest in the Lido DAO is growing exponentially. Andreessen Horowitz, an American venture capital firm, also announces that it is investing in Lido DAO.
Representatives of the company claim that the Lido DAO is the easiest way of staking PoS assets, democratizing staking. LDO, a local token of the Lido DAO, which also found institutional investors after the Binance listing, attracts attention by the fact that it reached $ 3.95 during the day, although it started at $ 2.83.
However, LDO cannot sustain this growth and at the time of writing this article is trading at around $2.26, down almost 9% in the last 24 hours. Although the lists affect the corresponding altcoins under normal conditions, experts say that this instant rise and subsequent fall may actually be related to the general trend of the cryptocurrency market. Perhaps after tomorrow’s listing, LDO will be able to show its true performance.