Lido DAO (LDO) jumps 10% following Q1 metrics report

Lido
DAO
(LDO)
has
seen
its
token
price surge
following
the
release
of
its
Validator
and
Node
Operator
Metrics
(VaNOM)
report
for
Q1
2024.

At
the
time
of
writing,
LDO
was
trading
at
$2.35,
reflecting
a
10%
rise
over
the
past
24
hours. The
market
cap
of
LDO exceeded
$2
billion,
and
the
24-hour
trading
volume
reached
$474
million,
marking
a
148%
increase.

The
VaNOM
report,
published
on
May
23,
highlighted
a
shift
in
client
diversity,
especially
at
the
execution
level.
The
usage
rate
of
the
client
Geth
dropped
to
46%,
a
significant
decline
from
96%
in
2022
and
67%
in
the
fourth
quarter
of
2023.

Additionally,
the
report
indicated
a
reduction
in
the
use
of
public
clouds,
falling
from
46%
to
40%.
These
changes
suggest
a
diversification
in
technology
and
a
move
away
from
reliance
on
specific
platforms
like

Geth
and
public
clouds.

The
report
did
not
specify
the
reasons
for
these
changes.

Earlier
on
May
21,
LDO’s
price
surged
by
40%
after
Lido
DAO
effectively
managed
a
security
breach
involving
Numic. The
breach,
identified
on
May
14,
involved
unauthorized
access
to
a
developer
machine
used
by
Numic,
a
Node
Operator
collaborating
with
Lido
on
the
Ethereum
protocol.

Despite
concerns
about
potential
compromise
of
the
mainnet
validators’
encrypted key material
backups,
there
was
no
evidence
of
tampering
or
malicious
use.

Numic
responded
promptly
by
setting
all
depositable
keys
to
zero
and
systematically
removing
any
potentially
compromised
keys.
The
action
prevented
new
deposits
from
being
directed
to
validators
that
might
have been
compromised.

Lido
DAO
contributors played
a
crucial
role in
assisting
Numic
with
a
thorough
investigation
of
the
breach. The precautionary measures
were
successfully
implemented without
disrupting
validator
operations,
and
the
incident
did
not
result
in any financial
losses.