Ethereum Ecosystem Takes a Hit: Lido DAO (LDO) and Arbitrum (ARB) Prices Plummet

The ongoing market crash has hit Ethereum's ecosystem particularly hard. This is evident by simply observing the performance of altcoins from this sector.

The ongoing market crash has hit Ethereum’s ecosystem particularly hard. This is evident by simply observing the performance of altcoins from this sector.

Lido DAO’s price has dropped by 27% today, making it the worst-performing altcoin among the top 100 by market cap. Lido DAO is a decentralized autonomous organization (DAO) that provides liquid staking solutions primarily for Ethereum and other Proof of Stake (PoS) blockchains such as Polygon, Solana, and Polkadot.

Arbitrum’s price has also fallen by over 20% today, now trading below $0.5, its lowest level in over a year.

It appears that the Ethereum ecosystem has reacted most severely to this crash, which explains why LDO and ARB prices are dipping so dramatically.

Ethereum Name Service (ENS) price has also declined by 25%, further highlighting the impact on Ethereum-based projects.

Several factors have contributed to today’s crash:

These combined factors have created a perfect storm for the crypto market, with Ethereum-based projects bearing the brunt of the impact.

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