bullish

Lido DAO

Lido Staked ETH

Lido wstETH

Lido Staked Matic

<ul class="wp-block-list"> 
 <li><strong>A bullish trend in trading volume follows the Lido DAO (LDO) price surge.</strong></li> 
 <li><strong>The liquid staking protocol observed an 8.9% spike in total value locked (TVL).</strong></li> 
</ul> 
<p>Lido DAO’s LDO, a prominent liquid staking token (LST), landed in the top 3 crypto gainers with a 20.8% price surge over the past 24 hours. Significantly, this LST recorded a 38-day high of $1.446.</p> 
<p>The entire U.S. election scenario triggered Bitcoin to hit an all-time high (ATH), subsequently leading to the altcoin market’s <a href="https://thenewscrypto.com/is-the-crypto-bull-run-here-to-stay-in-moonvember/" target="_blank" rel="noreferrer noopener">resurgence</a>. Green candles and notable gains are dominating the crypto market today. Notably, the price surge of LDO is backed by a bullish uptick in trading volume. In the last 24 hours, LDO’s daily trading volume <a href="https://coinmarketcap.com/currencies/lido-dao/" target="_blank" rel="noreferrer noopener nofollow">saw</a> a 176.61% surge, reaching $305.5 million.</p> 
<p>Amid this rally, the LDO market witnessed a massive whale transfer over the last 12 hours. Paradigm Capital transferred its entire 70 million LDO holdings in two transactions. According to Lookonchain data, the firm accumulated these tokens in May 2021.&nbsp;</p> 
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Paradigm Capital's Big Move with <a href="https://twitter.com/hashtag/LDO?src=hash&amp;ref_src=twsrc%5Etfw">#LDO</a>—they've shifted 70M LDO worth $96.6M<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> $11.29M worth <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a> to <a href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw">#CoinbasePrime</a> <br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> $85.31M to a new wallet<br> <br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4cc.png" alt="📌" class="wp-smiley" style="height: 1em; max-height: 1em;"> Backstory: This stake was acquired in 2021, spending 15,120 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> valued at around $53.25M. <br><br>Could this impact $LDO’s market… <a href="https://t.co/Hkgy7Cmxfk">pic.twitter.com/Hkgy7Cmxfk</a></p>— TheNewsCrypto (@The_NewsCrypto) <a href="https://twitter.com/The_NewsCrypto/status/1854384533870969055?ref_src=twsrc%5Etfw">November 7, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
</div> 
<p>Meanwhile, the liquid staking protocol’s total value locked (TVL) increased by 8.76% over the past 24 hours. Based on DefiLlama <a href="https://defillama.com/protocol/lido" target="_blank" rel="noreferrer noopener nofollow">data</a>, the TVL jumped from $23.70 billion to $27.72 billion. </p> 
<p>Let’s dive into the Lido DAO price increase analysis and the factors supporting its current gains.</p> 
<h3 class="wp-block-heading" id="h-lido-dao-ldo-24h-price-analysis">Lido DAO (LDO) 24H Price Analysis</h3> 
<p>At the time of analysis, LDO traded at $1.37 with a market cap of $1.22 billion. As mentioned earlier, the altcoin’s price surge is accompanied by bullish trends in trading volume. This is evident from the pattern shown by the on-balance volume (OBV) indicator on the daily LDO price chart. The OBV appears to be on an upward trajectory, indicating rising buying pressure, which supports a potential bullish rally.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" src="https://www.tradingview.com/x/Itagn5Zo/" alt="">
 </figure>
</div> 
<p>Analyzing the Fibonacci retracement is crucial for understanding and forecasting the fate of LDO’s bullish momentum. If the token fails to hold the support at $1.244 (38.2% Fibonacci level), the uptrend will begin to weaken. Furthermore, a bearish move could trigger a downturn toward critical support levels such as $1.119 (61.8% Fib) and $1.030 (78.6% Fib).</p> 
<p>On the other hand, other tokens from this liquid staking protocol—stETH, WSTETH, and stMATIC—also recorded notable price gains. Lido Staked ETH (stETH) saw a brief uptick of 7.2%, reaching $2,814. Lido wstETH (WSTETH) spiked 7.95% to $3,333, while Lido Staked Matic (stMATIC) gained 5.2%, reaching $227.31.</p>

Lido DAO (LDO) Bullish Streak Likely to Continue if $1.24 Holds

Table of Contents

TheNewsCrypto

Other articles published on Nov 7, 2024

Top-Grossing New Crypto Presales: Projects with Potential for High Returns

China Sets Legal Precedent in $111M Crypto Money Laundering Bust

Top AI Tokens TAO, FET, and RENDER Flashing Bullish Signals Amid Key Breakouts: Are More Gains Ah...

FED Interest Rate Decision Expected Today in Bitcoin! What Time Will It Be Announced? Here Are th...

Trump’s election victory makes French bettor $78.7M richer on Polymarket

Bitcoin’s Soaring Price, Pro-Crypto Election Wins, and a Promising Future: Key Highlights from To...

Join our free newsletter for daily crypto updates!