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The stock market had a choppy session on Friday and closed lower as investors analyzed the latest nonfarm payrolls report, which followed stronger-than-expected private hiring data from the previous day. The hot token for today is LDO, which has been on the spotlight as Grayscale adds it to the DeFi Fund.
LDO is the native token of Lido DAO, the largest ETH liquid staking provider. The staked stETH on the platform has been growing faster since the Ethereum Shapella upgrade. Indeed, being one of main beneficiaries from the Merge, LDO gained 170% in a year. As the upcoming Kencun upgrade approaches, LDO is expected to benefit from a more scalable Ethereum.
The recent publicity of LDO comes as Grayscale adds the token to its DeFi Fund. LDO will become the second largest holding with a holding percentage of 19.04%, only tracking behind UNI. Grayscale DeFi Fund is one of popular investment choices among TradFi players who intend to own digital assets. The addition is expected to shore up the weak LDO token price in the short term.
Check Out the Latest Prices, Charts, and Data of LDO/USDT Here!
Avail, created earlier this year as part of Polygon, has launched a data attestation bridge on its live testnet to reduce costs for Ethereum layer 2 and layer 3 chains. The bridge, which is still in its test phase, will help secure data off-chain and verify its existence and availability, reducing the high transaction fees that come from posting data on the main Ethereum blockchain. In the long term, Avail plans to host rollups entirely on its network, including validiums that store transaction data off-chain. The launch represents an important step in Avail's mission to help secondary networks in the Ethereum ecosystem.