Lido DAO Price 20% Rally Holds As Staking TVL Rises Reaching $34B

Lido DAO price flaunts bullish market trends and notable trading activity, with its valuation rising amid broader crypto market movements and regulatory news.
By Coingapestaff
Lido DAO Price

Highlights

  • Lido DAO's market cap growth reflects renewed investor confidence and market optimism.
  • Trading volume is up by 55%, indicating high liquidity and investor engagement.
  • LDO's price stability suggests a potential for significant upward movement soon.

Lido DAO price has seen a significant surge over the past 24 hours, indicating bullish sentiment among investors. However, the market has experienced some volatility over the past few hours, with price fluctuations observed as the trading day progressed. 

As of the time of writing, the token hovered at $1.97 during U.S. trading hours, making a slight increase of 1.05%. According to CoinMarketCap data, Lido DAO’s current market cap is approximately $1.8 billion, positioning it at #52 in the rankings. 

Advertisement
Advertisement

Lido DAO Price Navigates Market Volatility

This valuation has increased by 2% over the past 24 hours, reflecting investor confidence and a bullish market trend for the token. Additionally, the trading volume has surged by 55% to $185 million, further evidencing active participation and interest in the market.

Lido DAO Price 20% Rally Holds As Staking TVL Rises Reaching $34B
Lido DAO Price

Over the past week, Lido DAO has seen a notable increase in its market value, climbing 18%. The cryptocurrency experienced a trading range bound of $1.88 to $2.03 over the last 24 hours. Despite this recent surge, LDO is still significantly off from its all-time high of $11.00, achieved on November 16, 2021, reflecting an overall decline of 82.05%. 

This notable surge appears amidst broader market movements, including recent news from the SEC regarding allegations against Lido and Rocket Pool, and developments concerning ETH ETF issuers.

Advertisement
Advertisement

TVL Growth and Revenue Insights

According to DeFiLlama, Lido (LDO) currently has a Total Value Locked (TVL) of $33 billion. The platform’s liquidity is $22 million, while annualized fees have reached $1.077 billion. 

The annualized revenue is reported at $107 million. Lido’s treasury holds $153.94 million, and the total amount raised by the platform is $167 million. Additionally, annual operational expenses amount to $16.81 million. There are also mentions of top controversial proposals within the platform’s ecosystem.

Advertisement
Advertisement

Potential to Break $2 Barrier Soon?

Lido DAO is showing signs of stabilization, suggesting a potential rise in the bullish trend. If this momentum continues, LDO could surpass the $2 mark. Such a breakthrough may elevate its price towards $3 and $5 in the near future.

On the flip side, if market sentiment deteriorates, Lido DAO price might stabilize at $1.90. A further market downturn could reduce its value to around $1.8. In extreme cases, LDO could drop to as low as $1.5, highlighting the cryptocurrency market’s volatility.

Technical Indicators Favor Lido DAO’s Upswing

The 4-hour technical indicators for Lido DAO price show a bullish sentiment in the recent trading sessions.  The Relative Strength Index (RSI), currently at 59, is trending near the overbought territory, suggesting a high level of buying activity. However, it remains below the overbought threshold of 70, indicating that there might still be room for upward price movement.

Lido DAO Price 20% Rally Holds As Staking TVL Rises Reaching $34B
Lido DAO Price Chart| Source: TradingView

The Moving Average Convergence Divergence (MACD) presents a bullish signal. The MACD line is trending above the signal line and both lines are positioned above the zero line. This configuration suggests a strong buying momentum, aligning with the recent price increase observed in the chart.

Advertisement

Frequently Asked Questions (FAQs)

1. What is Lido DAO?

Lido DAO is a decentralized platform that allows users to stake Ethereum and receive liquid stETH tokens in return.

2. How is Lido DAO secured?

Lido DAO uses audited smart contracts and decentralized governance to ensure platform security.

3. What can LDO token holders do?**

LDO token holders can vote on governance proposals to influence Lido DAO’s operations and updates.
Coingapestaff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.