3 reasons why Lido DAO Token could be on the verge of breaking its downtrend
LIDO price made a double-digit move after the liquid staking platform added support for KSM and partnered with Apricot Finance to form a lending marketplace for SOL. Ethereum (ETH) and decentralized finance (DeFi) are undergoing a seismic shift as the transition to Eth2 and a proof-of-stake consensus mechanism is helping to increase the value proposition for the network which has historically has been plagued with scaling issues and high transaction costs. Alongside this transition has been the introduction of liquid staking, which is helping to add utility to DeFi and giving investors the....
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LDO price faces downside risks from "sell-the-news" sentiment coupled with a bearish technical setup. Lido DAO (LDO) has declined by more than 40% in the last 30 days with more room to fall in the coming days amid a potential sell-the-news event, i.e. the Merge.Lido DAO Ether deposits surge 160% in 2022Lido DAO is Ethereum's biggest staking service, having deposited over 4.14 million of the blockchain's native asset, Ether (ETH), into the Ethereum 2.0 smart contract on behalf of its users, according to the latest data.ETH 2.0 total value staked by provider. Source: GlassnodeIn comparison,....
A renewed focus on decentralization, the steady growth of DeFi’s liquid staking sector and investment from institutions could benefit LDO token in the long-term. Liquid staking has grown in popularity over the past year thanks in part to the launch of the Ethereum beacon chain and the inability of ETH stakers to withdraw their tokens until the full launch of the consensus layer. As a result, Lido (LDO) has established itself as a leader in the liquid staking sector. Lido is one of the main staking protocols for several popular tokens and it allows token holders to earn an extra yield by....
LDO price shows strength for the first time after post-merge. LDO bounces from the downtrend, hoping to end its bearish run as the price eyes a possible breakout from the downtrend line. The price of LDO shows bullish signs as price trades below 50 and 200 Exponential Moving Averages (EMA) with good volume. The price of Lido DAO (LDO) has been one of the best performances before the “Ethereum Merge,” outperforming the market as the price rallied to an all-time high of $3 against tether (USDT). Although the crypto market faced a new drawback as Bitcoin (BTC) price dropped from....
Back in 2022, Lido Finance, a decentralized finance (DeFi) protocol providing staking services, announced support for Solana. Since then, the DeFi platform has provided an avenue for Solana users to stake their SOL and receive a liquid staking token while doing so. The platform has run into a problem that could lead to the end […]
Moonbeam, the Ethereum (ETH) blockchain-compatible smart contract platform developed on Polkadot, announced that it will integrate and work closely with Lido, which claims to be the largest liquid staking derivatives protocol currently live on Ethereum and Terra. The collaboration between Moonbeam and Lido will be driven by MixBytes, which was selected by the Lido DAO […]