Lido Finance, a liquid staking DeFi protocol, experienced significant growth in the last week of September 2024. The platform's total value locked (TVL) rose to $26.08 billion, with a 3.55% increase. This growth is attributed to Ethereum deposits and favorable market conditions for stETH. Institutional investors have shown trust in Lido's platform, with 43,232 ETH staked. The 7-day stETH APR is at 3.11%, slightly lower than the previous week. Lido also expanded its multichain stETH product. There was increased interaction between stETH and other DeFi platforms, such as lending pools and liquidity pools. Trading volume for wstETH decreased, but the utilization of staked assets in DeFi platforms increased. Lido's multichain activity also saw growth, particularly on Ethereum Layer 2 and other alternative blockchains. The demand for liquid staking and the potential for growth in Ethereum stakes and multichain adoption contribute to Lido's impressive growth.



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