Lybra Finance's TVL Skyrockets Nearly 400% in Two Weeks, Nearing $100 Million

Lybra Finance, a protocol that utilizes liquid staking derivatives to create a decentralized interest-bearing stablecoin, has experienced a surge in total value locked (TVL) of almost 400% in the past two weeks, reaching almost $100 million as of Friday. The increase in TVL coincides with Lido's upgrade to its second version on May 15, which allowed Lido users to unstake their stETH and receive ETH. Lybra's native token, LBR, has also seen significant gains, rising 33.8% in the past 24 hours and 173% in the past seven days, with smart money wallets accumulating the token. According to blockchain data firm Nansen, decentralized exchanges now hold 9.61% of the total LBR supply, while smart money wallets hold 4.74%.

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