The price of Lido Dao token (LDO) remains in a tight range over the last few months as investors have focused on meme coins instead of utility tokens. The price of LDO was trading at $ 1.873 on Saturday, from a low of $ 1.4 of this month. It remains in this range over the last few months and is still about 53% below its highest point last year.
Lido Dow Token rises between rapid emotion
There are indications that investors are turning to lido dao tokens as focus tunes for the upcoming V3 launch that introduce new features. The most notable features are its adapted stacking, verification adaptation and risk-inam adjustments.
Crypto tokens often move beyond a major upgrade as they usually lead to greater enthusiasm and engagement, especially on X and Stockwits. Indeed, data by the Sentimen shows that LDO was one of the fastest crowd spirit in 9 months in tokens.
The growth of Lido Dao’s +26% market cap in the last 5 days has created Altcoin the fastest congestion in 9 months. The 54th ranked market cap asset usually becomes ~ 0.025% of crypto discussions, looking at the general discussion rate 9 times. With many…
Catalyst for LDO tokens
LDO tokens are more catalysts at the top of upcoming upcoming upgrades in the value. First, there are indications that the Etharium Foundation will soon collect cash to the network. The Foundation has recently deposited cash in some of its largest ecosystem property.
As shown below, it deposited $ 26.7 million in Spark, $ 80 million in AAVE and $ 11.6 million in the campus. This deployment is part of the foundation’s goal to support the development of its ecosystem over time.
Therefore, there is a possibility that it will accumulate cash to Lido Dao, which will be the largest part of its ecosystem with more than $ 24 billion assets.
For the onset, the lido provides a liquid stacking platform that enables users to deposit their stake ether tokens in exchange for steth tokens. This allows users to continue to earn prizes from their stacked ath token.
Liquid stating is often seen as a better option for traditional approaches because users can use stath tokens to trade and do other things in the decentralized finance (DEFI) industry. Stecated Ath in LIDO earns a reward rate of about 2.5%.
Lido has become one of the most profitable players in the Crypto industry. It has already earned a fee of over $ 124 million this year, which is the third most profitable DApp in the industry after Jito and Uniswap. As ToolminalIt has earned more than $ 1 billion in the last 12 months.
Read more: Ethereum staking meets social effects: Lido effect stacking officially launches
Lido dao price forecast
Technical suggestions that the price of LDO tokens may increase in the coming months. The daily chart suggests that the token has been in a tight range in the last few months as it remains between support and resistance levels at $ 1.4 and $ 2.45.
It is part of the formation of the handle section of the consolidation cup and handle pattern, which is a popular rapid continuity signal. The depth of this cup is 65%.
Therefore, by measuring the same distance from the upper part of the cup, we can guess that the token will increase to a high level of high $ 4.2 of the previous year. This price action is about 115% above the current level.
Post Lido Dao Price Forecasting: LDO target for 115% increase Appeared first Inhaze
