Lido DAO Price 20% Rally Holds As Staking TVL Rises Reaching $34B
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. Lido DAO Price Navigates Market VolatilityThis 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 PriceOver 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.TVL Growth and Revenue InsightsAccording 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.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 Chart| Source: TradingViewThe 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. Frequently Asked Questions (FAQs) Lido DAO is a decentralized platform that allows users to stake Ethereum and receive liquid stETH tokens in return. Lido DAO uses audited smart contracts and decentralized governance to ensure platform security. LDO token holders can vote on governance proposals to influence Lido DAO’s operations and updates. Related Articles Dogwifhat Price Prediction: On the Brink Of 2x Rally? SHIB Price Forecast: What To Do As WazirX Exploiter Sells 35B Shiba Inu Jupiter Price Prediction: Can Bulls Overcome DEX Volume Drop To Hit $2? Coingape Staff 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. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.