Cryptocurrencies Price Prediction: Yield, Lido & Ethereum – European Wrap 4 October
|Yield Protocol announces closure amid weak demand and regulatory challenges
DeFi platform Yield Protocol has announced its closure, citing weak demand for fixed-rate borrowing. The news comes against the backdrop of mounting regulatory pressure from global watchdogs. The DeFi sector also faces broader challenges after high-profile collapses in the crypto sector.
Lido TVL pares recent gains as ETH, MATIC, SOL price rally wanes
Lido Finance Total Value Locked (TVL), the value of all crypto assets held in the protocol, reached $15.37 billion in the week to October 2, the highest level since August. The 10.24% weekly surge was largely fueled by Ethereum (ETH) price gains, although the lukewarm launch of Ethereum Futures ETFs has pulled down Lido's TVL.
Ethereum's organised retreat
The crypto market lost ground throughout Tuesday but has been attempting to turn around since Wednesday morning. So far, it seems to be following the sentiment of the stock market, which is trying to recover from the previous day's sell-off.
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