The token will be available for trading LDO/USDT, LDO/BUSD and LDO/BTC pairs and will go live at 11:00 UTC. This will be the first listing of the token by a centralized crypto exchange.
According to DeFi Llama, Lido is among the platforms that hold the largest market share in ETH staking (Ethereum staked on Lido is $10.15 billion). Also, Lido is the second largest DeFi protocol by total value of Total Value Locked (TVL), which has grown to over $20 billion.
Lido continues to gain traction
Lido offers staking via Ethereum, Solana, Polygon, Terra and Kusama, also the LDO deposit channel is now open, but according to the exchange policy, traders have to wait 24 hours to make a transaction. The token listing fee is 0 BNB.
Additionally, the platform (Lido) has been one of the most popular Ethereum liquid staking platforms of late, at a time when interest in Ethereum 2.0 is growing. However, the token price had seen a significant drop after the developer postponed the Ethereum merge to the third quarter (Q3).
Although ETH rewards on Lido have declined over time despite efforts to add other assets, this new move towards decentralization and Binance listing will benefit Lido users concerned about its trend over time have made.
At the time of writing, LDO was trading at $3.31, up 26.73% over the past 24 hours after declining from a high of $3.51.
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