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Lido Finance, a decentralized protocol introducing the concept of liquid staking, has reported its first-ever profit in its fourth year of operation. The net income for 2024 reached $99 million, while expenses amounted to $94 million. This outcome marks Lido’s first positive financial period in its history, with a net income of $5 million, according to data provided by the crypto consulting firm Steakhouse Financial.
Increase in ETH Price Boosts Profitability
Adrian Vasiljevic, founder of Steakhouse Financial, stated, “Lido’s profit largely parallels the rise in Ethereum 
$3,851 prices.” Vasiljevic noted that since the beginning of 2024, the ETH price has increased by 67%, climbing from $2,350 to over $4,000. The surge in ETH prices significantly supported Lido’s revenues.
Moreover, interest from users and institutional participants in liquid staking services has contributed to this growth. In January, the total amount of locked ETH increased by 5%, reaching 9.81 m…
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