1: lido finance (ldo) and rocket pool (rpl) experienced significant gains over the past 24 hours, with ldo becoming the largest decentralized application in terms of total value locked (tvl), dethroning makerdao, the creator of dai. ldo was also the largest weekly gainer, posting a 74.8% gain over the past seven days, while rpl posted a 14.2% gain over the same period.
paragraph 2: ethereum switched to a proof-of-stake (pos) consensus mechanism in early september 2022, and has since enjoyed 4.4% in daily gains and over 10% in weekly gains. in order to become a validator of the ethereum network, users must first put up 32 ethereum, but services like ldo and rpl allow investors to stake any amount of ethereum and still earn their rewards.
paragraph 3: ldo trades at around $1.88 and has a market capitalization slightly above $1.5 billion, while rpl trades at around $26.13 and has 802% increase in daily trading volumes to $7.8 million over the past 24 hours. over $1.61 million worth of ldo futures positions were liquidated over the past 24 hours, with most liquidations (~66%) coming from blown-out short trades. the upcoming ethereum upgrade will let users withdraw their staked ethereum.