With Terms Of Overall Amount Secured Lido (LDO) Outperforms MakerDAO (MKR)

• MakerDAO has a total value locked (TVL) of $17.5 billion on March 28, 2022. The value locked in MakerDAO at the beginning of March had increased by 8.69 percent. TVL in MakerDAO was $16.1 billion on Tuesday, March 1, 2022.

• Just a conclusion from February, MakerDAO’s TVL has surpassed $15.02 billion. This sum was lower than the protocol’s TVL of $15.63 billion as of the end of January 2022.

• The present success of Lido is due to a rise in the amount of coins stacked in its Ethereum Network, Terra, and Solana protocols. Lido’s total value locked on Ethereum was $8.3 billion on March 23, Solana’s TVL was $297.76 million, and Terra’s value locked was $7.83 billion. The value of TVL on Ethereum increased by 16 percent to $9.65 billion on March 28. Solana increased by 21% to $360.66 million, while Terra increased by 4% to $8.22 billion.

The Lido protocol has surpassed MakerDAO in terms of total value locked by the end of March 2022, thanks to an increase in the number of tokens staked. MakerDAO, Anchor (ANC), Aave (AAVE), Convex Finance (CVX), Uniswap (UNI), Compound (COMP), Instadapp (INST), and PancakeSwap have all seen their total value locked (TVL) exceed that of Lido (CAKE). According to Be[In]Crypto Research, the Lido protocol began the last week of March with about $18.23 billion in TVL.

During 2022, Lido TVL Would Continue Their Expand

With a TVL of $13.83 billion, Lido began the third month of 2022 with a TVL of $13.83 billion. The protocol’s popularity has risen to second position in the total value locked rankings, trailing only Curve (CRV).

In 2020, Lido will become a part of the Ethereum ecosystem as an ERC20 token. Lido has seen a significant increase in total value locked in less than two years. The total value locked was $13.98 billion when Be[In]Crypto Research did a study on the protocol at the beginning of March, when Lido exceeded Aave. The protocol surpassed the $16 billion mark in the third week of March, thanks to a 14 percent increase in the aforementioned value. Lido experienced a $31.8 percent increase in its first day TVL, putting the dApp ahead of MakerDAO.

The present success of Lido is due to a rise in the amount of coins staked in its Ethereum Network, Terra, and Solana protocols. Lido’s total value locked on Ethereum was $8.3 billion on March 23, Solana’s TVL was $297.76 million, and Terra’s value locked was $7.83 billion. The value of TVL on Ethereum increased by 16 percent to $9.65 billion on March 28. Solana increased by 21% to $360.66 million, while Terra increased by 4% to $8.22 billion.

MakerDAO TVL Faces Another Sticking Hurdle

Maker (MKR) is classified as a medium-cap digital asset with a market value of more than $2 billion. However, in the last week of March 2022, its total value locked fell below Lido. MakerDAO has a total value locked (TVL) of $17.5 billion on March 28, 2022. The value locked in MakerDAO at the beginning of March had increased by 8.69 percent. TVL in MakerDAO was $16.1 billion on Tuesday, March 1, 2022.

Just a conclusion from February, MakerDAO’s TVL has surpassed $15.02 billion. This sum was lower than the protocol’s TVL of $15.63 billion as of the end of January 2022. MakerDAO was launched on Ethereum as an ERC20 token, therefore it hasn’t reaped the benefits of being deployed on other networks like Terra, Solana, Avalanche, Cardano, TRON, and others. This is why TVL’s growth has been slower than Lido’s, which ensures liquidity from a wide spectrum of investors across many blockchain networks.

ALSO READ: Stronghold Reveals Reason Behind Its Loss Of Over 25% After Hours As Q4 Earnings 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

Latest posts by Steve Anderrson (see all)