More than 10,000 new stakers joined Lido (LDO) in July, according to the latest report from the liquid staking protocol, indicating its continued adoption and growth despite the current market situation.

In July, Lido’s TVL  briefly exceeded $15 billion for the first time since May 2022 but fell below the benchmark due to Ethereum’s (ETH) price struggles.

Over the preceding month, the value of Ether underwent a modest decline of approximately 3% to $1,815 as of press time, according to CryptoSlate’s data. This price correction emerged as the initial enthusiasm within the crypto market, fueled by a bullish streak in June primarily driven by institutional investors, gradually subsided.

Even though Lido’s TVL experienced a decline from its impressive $15 billion benchmark, it retains …