Lido DAO: Ethereum's Biggest Merger Picker Just Jumped 30% - Will LDO Rally in September?
LDO price is up around 30% in the last day, gaining around 500% since mid-June.< /p>
Altcoin Watch
The price of Lido DAO (LDO) rose slightly on August 3, mainly due to similar upward movements elsewhere in the crypto market and growing euphoria around the network upgrade. Ethereum in September.
On the daily chart, the price of LDO reached an intraday high of $2.40 per day after hitting a local low of $1.84. The sharp upside reversal amounted to nearly 30% one-day gains, suggesting a strengthening of traders' bullish bias for Lido DAO.
Daily LDO/USD price chart. Source: TradingViewLido DAO is a liquid staking solution for Ethereum by total value deposited. In other words, it allows users to participate in the operation of Ethereum's next proof-of-stake (PoS) chain in exchange for daily rewards.
Ethereum's Ether (ETH) token has risen more than 90% since mid-June, in part due to buzz around its blockchain PoS upgrade called Merge, expected in September.
Lido DAO, Merge's largest staking service provider, has benefited from the craze simultaneously, with LDO, its governance token, rallying almost 500% over the same period.
Notably, the total number of Ethers staked in the Merge smart contract – also known as ETH 2.0 – via Lido increased from 3.38 million on June 13 to 4.16 million on August 3, according to DeFi Llama.
Total ETH deposited in Ethereum Merge contract via Lido DAO. Source: DeFi Llama
Furthermore, LDO technical data appears to be biased to the upside due to
LDO price is up around 30% in the last day, gaining around 500% since mid-June.< /p>
Altcoin Watch
The price of Lido DAO (LDO) rose slightly on August 3, mainly due to similar upward movements elsewhere in the crypto market and growing euphoria around the network upgrade. Ethereum in September.
On the daily chart, the price of LDO reached an intraday high of $2.40 per day after hitting a local low of $1.84. The sharp upside reversal amounted to nearly 30% one-day gains, suggesting a strengthening of traders' bullish bias for Lido DAO.
Daily LDO/USD price chart. Source: TradingViewLido DAO is a liquid staking solution for Ethereum by total value deposited. In other words, it allows users to participate in the operation of Ethereum's next proof-of-stake (PoS) chain in exchange for daily rewards.
Ethereum's Ether (ETH) token has risen more than 90% since mid-June, in part due to buzz around its blockchain PoS upgrade called Merge, expected in September.
Lido DAO, Merge's largest staking service provider, has benefited from the craze simultaneously, with LDO, its governance token, rallying almost 500% over the same period.
Notably, the total number of Ethers staked in the Merge smart contract – also known as ETH 2.0 – via Lido increased from 3.38 million on June 13 to 4.16 million on August 3, according to DeFi Llama.
Total ETH deposited in Ethereum Merge contract via Lido DAO. Source: DeFi Llama
Furthermore, LDO technical data appears to be biased to the upside due to
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