It seems that Tron is on the rise once again. Recently, Lido, a new liquid staking platform, reported that it received 150,000 ether from Tron founder Justin Sun. This is the largest stake inflow to date, and it’s clear that many investors are beginning to pour their money into Tron.
New Liquid Staking Platform Lido Hits Another Steam Picking High
Lido, a new liquid staking platform, saw a large spike in ether transactions on June 19th. This surge was due to a safety feature called the Staking Rate Limit. The Staking Rate Limit reduced the chance of diluting the value of ether held by Lido, while still allowing transactions to take place.
This spike in transactions is likely due to the popularity of Lido among ether enthusiasts. The Staking Rate Limit is likely a key component in Lido’s success, as it manages large influxes of ether while ensuring the integrity of the platform’s value.
Lido Planning Ethereum Withdrawal Feature Ahead of Shanghai Hard Fork
According to Hildobby, a researcher and data analyst at Dragonfly Capital, the 150,000 ETH deposit into Lido was reportedly made by Justin Sun of Tron. This is now the largest week by staked amount in almost a year, and the largest daily stake inflow for Lido. This is now the largest crypto asset in terms of market capitalization.
Lido announced plans to create a withdrawal feature for ethereum deposits ahead of Ethereum’s Shanghai hard fork, expected to occur in March. Today [Justin Sun] staked 150K [ether] through [Lido Finance] (~0.9% of all staked ETH). This is now the largest crypto asset in terms of market capitalization.
Liquid Staking Platform Lido is doing extremely well, the Tron founder recently deposited 150,000 ETH into their platform. Withdrawals are planned for Ethereum soon too, making Lido a top contender in the space.