#Lido DAO Rallies 8%: What’s Fueling the Surge?
Key Gains
Lido DAO's token $LDO rose 8% in 24 hours, accompanied by a
58% surge in trading volume to $670 million, setting a new
record for the Ethereum staking protocol.
Increased Activity
*/ Active Addresses: Transactions by 891 unique addresses
reached their highest since February 2023, reflecting genuine
demand over speculation.
*/ Profit-Taking: Open interest in futures dropped by 50% to
$52 million, as traders locked in gains.
Price Outlook
*/ Bullish Scenario: Breaking out of a long-term descending
channel, LDO could target $2.09, last seen in August.
*/ Bearish Risk: Failing to hold the $1.56 support could result in a dip to $1.08.
With rising interest and strong metrics, LDO shows bullish
potential, but profit-taking may temper further gains.
