Lido DAO (LDO) is a key player in Ethereum’s liquid staking protocol. It has seen a big jump in its market cap and trading activity recently.
LDO has been making a splash in the crypto market. In the last 24 hours, LDO’s price went up, showing that investors are feeling positive. Right now, the token is priced around $1.97, a slight increase of 1.05%. This recent increase is good news, but it’s important to look at the bigger picture.
Lido DAO Price
Lido DAO’s market cap is about $1.8 billion, which puts it at #52 in the rankings, according to CMC data. This value has increased by 2% in the last 24 hours, showing that investors feel confident and positive about the token. Also, the trading volume has gone up by 55% to $185 million, showing a lot of activity in the market.
TVL Growth and Revenue Insights
According to DeFiLlama, Lido DAO has a Total Value Locked (TVL) of $33 billion. This big number shows how important the platform is in the crypto world. Also, Lido’s liquidity is $22 million, and its annualized fees have reached a whopping $1.077 billion. The platform’s annual revenue is $107 million, showing its strong performance.
Lido DAO’s increase goes along with bigger market movements and recent news. The SEC’s claims against Lido and Rocket Pool, along with changes related to ETH ETF issuers, have added to the ups and downs.
In theory, decentralized LSTs pose less risk and have more transparency than centralized staking services, so SEC has no basis to discriminate against them.In practice, the way SEC attacks Rocket and Lido in the Consensys complaint signals trouble ahead.
— Jake Chervinsky (@jchervinsky) July 17, 2024
Despite this, LDO is still much lower than its all-time high of $11.00, reached on November 16, 2021, showing an overall drop of 82.05%.
Technical Analysis: RSI and SMA Suggest Bullishness
Lido DAO Price Chart, Source: TradingView
Lido DAO (LDO) has been strong in recent trading sessions. The token faces immediate resistance at $2.10, with potential breakout levels at $2.30 and $2.50. On the support side, $1.90 and $1.70 are important levels to watch. The 50-day and 200-day simple moving averages (SMA) are at $1.85 and $1.60, respectively, showing a positive trend. Also, the 20-day exponential moving average (EMA) is near $1.95. The Relative Strength Index (RSI) is at 59, showing moderate positive momentum and a chance for an uptick any time soon.
Potential Price Trajectory
Lido DAO’s stability suggests a potential rise in the positive trend. If this momentum continues, LDO could surpass the $2 mark, potentially reaching $3 and $5 soon. However, market sentiment plays a big role. If sentiment gets worse, Lido DAO’s price might stabilize around $1.90. In extreme cases, it could drop to as low as $1.5, showing the ups and downs of the crypto market.
The post Lido DAO (LDO) Price Prediction July 18: LDO’s Price Jumps 20% as Staking TVL Hits an Impressive $34 Billion. Could This Be Just the Beginning? appeared first on Coinfomania.
