LDO Soars 58%, Reaches New Highs as Ethereum Network Activity Records Boom

Ethereum’s decentralized staking platform, Lido, has seen its governance token LDO surge by a remarkable 58% over the past five trading days. This surge comes alongside unprecedented network activity on the Ethereum blockchain, reaching levels not witnessed since 2022. The rise in LDO, which traded at $1.50 this Monday, is attributed to increased buying pressure across multiple sessions and robust network participation, as evidenced by daily active addresses surging to a record high of 1,205 on August 10. This marked the highest count in over two years.