Prices of DeFi Coins Rising in Anticipation of the Ethereum Merge

12.08.2022 09:47
by Sviatoslav Pinchuk
1 min read

After the successful launch of Ethereum’s final testnet before the Merge event, Goerli, many prominent DeFi coins are experiencing price increases. According to CoinMarketCap, the value of ETH itself has risen by some 10% over the past 24 hours, with it currently amounting to $1,890.

The biggest winner among popular DeFi coins is LDO, the native token of the staking network Lido Finance. Its value increased by some 18% in the same period and is currently $2.57.

Lido is directly connected to Ethereum. After the merge, it will cost 32 ETH, or some $60,000, to perform staking operations. However, Lido allows users to make a yield profit on any invested staking amount on the Ethereum network, at a rate of 3.9%.

The Merge will be coming sooner than expected, with the devs announcing a new September 15 date.

Other coins that are currently enjoying bullish market prices include AAVE (roughly 11% increase in value), Sushi (10%), Compound (8%), and Curve (7%).

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

Trending news

Subscribe and be in touch
Click here