đ„¶Lido has FUD! Is this the time to buy $LDO ?
LidoDAO's LDO token price suddenly dropped 20% yesterday after news that the SEC accused the platform's staking model of being a securities transaction. The project capitalization also quickly evaporated by 300 million USD.
đ€However, I think this FUD is unlikely to have a long-term impact on a project of LidoDAo's magnitude, and the ETH liquidity staking market is too lucrative to stop playing right now.
đAccording to DefiLlama, there are currently 13.4 million $ETH stakes on the network, worth up to 45.42 billion USD.
đLido has 9.72 million ETH (TVL equivalent to 32.93 billion USD), accounting for 72.57% of the market share.
đLido is also the platform with the largest TVL in the Ethereum ecosystem. (higher than the total TVL of the two following projects, EigenLayer and AAVE combined).
đ„If Ethereum is one of the pillars of the DeFi segment, then Lido is the pillar of the Ethereum ecosystem => Too big to be in crisis due to the impact of the SEC.
In addition, not only Lido, the SEC also accused the activities of units such as Coinbase, Rocket Pool, Kraken... of providing securities services, but the legal actions have not yet caused significant consequences!
đ”What price should I buy LDO?
LDO is currently trading around 2 USD, an increase of about 5 times compared to the bottom of 0.5 USD established in mid-2022.
However, in the 1W long-term frame, the actual price of $LDO is still sideways around 1.5 - 3u.
LDO's capitalization is 1.7 billion USD, FDV is 1.9 billion USD, not too high compared to the leading project position of an important segment like Liquidity Staking. When the market explodes, it is entirely possible to expect FDV of this type of project to reach 10 billion USD.
Currently, investors can buy LDO at the support levels of 1.7 - 1.5 - 1 USD.
