Staking solution Lido DAO (CRYPTO: LDO) and Proof-of-Work blockchain Ethereum Classic (CRYPTO: ETC) were the best performing cryptocurrencies last month, posting triple-digit gains in July. The positive price action was largely driven by optimism around the Ethereum (CRYPTO: ETH) Merge, causing a surge in retail interest for LDO and ETC.
Top Gainers of Month Ending July 31, 2022 (Data via CoinMarketCap)
Cryptocurrency
7-Day % Change (+/-)
All-Time High Value/Date Reached
% Change (+/-) Since All-Time High
Lido DAO (LDO)
+383.30%
$7.30 On Aug 20, 2021
-70%
Ethereum Classic (ETC)
+154%
$167.09 On May 06, 2021
-78%
yearn.finance (YFI)
+113%
$90,786 On May 12, 2021
-87%
Polygon (MATIC)
+105.55%
$2.92 On Dec 27,2021
-68%
Filecoin (FIL)
+105%
$238.84 On April 1, 2021
-95%
The Merge
LDO rallied 215% in a week after Ethereum developers floated a tentative date for the network’s switch to Proof-of-Stake. LDO is the native token of Lido DAO – a liquid staking solution for Ethereum. As the PoS transition nears, more users are looking to get in on staking ETH and participate …
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