$LDO becomes the most profitable token on the crypto market as it has shown a 200% price increase at the top
Recently, Ethereum developers announced that the Merge update is expected on September 19, which immediately caused a 25% surge of LDO on the announcement date as it serves as a governance token at Lido, which has 4.1 million ETH locked in a staking contract.
In addition to the increased price, the number of Ether deposited in the staking contract via the Lido platform increased drastically, the main reason is mostly tied to the fact that investors now know the exact date of the upcoming release.Unfortunately, even the 200% price increase, which has already tumbled down to 150%, is not enough to cover the loss LDO took this year. Since reaching the local high in April, LDO lost 66% of its value.
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