LDO, the governance token from Lido Finance, surged in Asia during the morning after crypto exchange Binance announced it would list the token later in the day.
- LDO jumped from $2.65 yesterday to as high as $3.37, a 27% increase in the last 24 hours, CoinGecko data shows.
- Lido Finance is a staking solutions provider that offers services for Ethereum 2.0, Terra, Solana and Kusama. Users who stake with Lido can maintain control and liquidity of their stacked tokens.
- Lido is the second largest decentralized financial platform (DeFi) with more than $15 billion in value, data shows. About $10 billion is on Ethereum, and $5 billion is on Terra.
- LDO is Lido's governance token, which allows its holders to participate in community votes and other decisions about the protocol's future.
- The token will initially trade against Bitcoin (BTC), Binance USD (BUSD), and Tether (USDT) at 11:00 UTC.
- LDO is still 53% below its all-time high of $7.30 from last August. The token has a market cap of $1.15 billion at the time of writing.