The post What is Driving the Growth? appeared on BitcoinEthereumNews.com.

Lido DAO crypto has experienced a notable upswing, soaring over 40% in the past week, signaling a potential turnaround from its prolonged low. The liquid stacking protocol for Ethereum saw its tokens trade around a $2.36 increase, buoyed by a substantial 10.24% intraday rise. Furthermore, this upward momentum has been fueled by a combination of factors, including the recent release of Lido’s Validator and Node Operator Metrics for the first quarter of 2024, alongside the greenlighting of Spot Ether ETFs. LDO is integral to Ethereum’s liquid staking, so these developments have likely played a role in its appreciation. Let’s dig deeper, try to correlate each other with the price, and determine if this surge is a temporary spike or the beginning of a sustained upward trend. Lido Validator & Node Operator Metrics: Q1 2024 The VaNOM report released on May 23 revealed a notable shift towards greater diversity in client usage, particularly in execution. The reliance on the Geth client has significantly decreased to 46%, from 96% in 2022 to 67% in late 2023. Lido Validator & Node Operator Metrics: Q1 2024 📊 Check the full report below or read on for a breakdown of key developments.https://t.co/bHDACmCFWR TLDR:– Use of supermajority client (Geth) falls to 46% from 67% in Q4’23.– Public cloud usage across validators has… pic.twitter.com/qjIoVlOArL — Lido (@LidoFinance) May 23, 2024   Furthermore, The report also showed a decline in public cloud usage from 46% to 40%, indicating a trend towards technological diversification and reduced dependence on specific platforms such as Geth and public clouds. On May 21, the price experienced a 40% increase following Lido DAO’s successful handling of a security incident with Numic. The breach, detected on May 14, was due to unauthorized access to a Numic developer’s machine.  On May 14th, Lido DAO contributors were…

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Filed under: News - @ May 25, 2024 12:26 pm