🚀 Price $LDO Soared 26% - Is It Too Late to Buy LDO?
👉 LidoDAO (LDO) price has continued to increase sharply since the beginning of the week with expectations for the development of the Ethereum ecosystem as the SEC is about to approve Ethereum ETFs (spot).
👉LDO is the native cryptocurrency of the Lido decentralized Ether staking platform. It also serves as the governance token of the Lido decentralized autonomous organization (DAO), which manages the Lido protocol.
👉According to CoinMarketCap, LidoDAO price recently traded around $2,075, surpassing its 50-day moving average (50DMA). This is a 26% increase in the past 7 days.
👉Compared to last month's low of about 1.50 USD, LDO is currently up about 37%. Even though investors who get in now aren't buying the bottom of the market, that doesn't mean it's too late to buy LidoDAO.
🎉Why Is It Still Not Too Late To Buy LidoDAO?
✔ $LDO is still down nearly 50% from its January peak of over $4.0. However, if the Ethereum ecosystem is about to see strong growth thanks to ETFs, then as one of the leading protocols, LDO could grow even more significantly.
✔ Decentralized options markets on DeFi derivatives exchange Lyra show a 20% chance of ETH reaching $5,000 by June. If this happens, LDO could quickly double back to its yearly high.
✔In addition, LDO's modest market capitalization, only about 1.8 billion USD, shows the ability to grow more than 2 times during this bull run.
✔LDO can grow at least 5 times to become a cryptocurrency with a market capitalization of 10 billion USD. In that sense, it's certainly not too late to buy LidoDAO.
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