Lido (LDO) dropped 9% on August 1, erasing some of the over 30% gains recorded in July. Despite the daily decline, on-chain data shows the protocol’s Total Value Locked (TVL) fell $414 million to $17.573 billion, a move consistent with a 30-day pattern of average daily inflows of $104.74 million. Token holder income hit a record $2.08 million in July through buybacks, while daily fees held near $1.2 million. Daily active users also rose, suggesting underlying utility remains strong even as the price slides.
Lido [LDO] declined on August 1, extending a 9% loss for holders after the asset closed July with over 30% in gains. The drop raises whether the move reflects a structural shift or mirrors broader bearish market sentiment.
The protocol’s Total Value Locked (TVL) fell by $414 million over the past day to $17.573 billion. Broader data shows the decline fits a 30-day structure where the market recorded roughly $3.247 billion in total inflows, translating to an average daily inflow of about $104.74 million.
The recent TVL dip resembles the pattern seen throughout the period, suggesting inflows could resume. A rising TVL points to a long-term bullish outlook.
Token holder income for July reportedly hit $2.08 million, the highest since the program began. This income functions as a buyback that helps manage the token’s supply, as stated by DeFiLlama.
The Holder Count dropped by 60 to 86,060 at press time. Fee generation remained steady at $1.2 million, near its 30-day daily average of $1.13 million.
Daily active users on the network reached 2,900 at the time of the report. Continued growth in user activity reinforces the asset’s underlying utility.
