Lido’s DAO Token Skyrockets, Boosted by Ethereum’s Value Rise

Share on Facebook Share on Twitter

Lido’s impressive performance brings 87% of LDO holders into the profit zone

Lido’s DAO token (LDO) has recently shown an impressive performance. According to data from IntoTheBlock, about 87% of LDO holders are in the profit zone. This is due to the strong seven-day performance of LDO, which recorded an increase of 18.97%. Thus, the token has outperformed many altcoins, including Solana (SOL) and Ripple (XRP).

The rise of LDO and Lido’s TVL

Although there have been no major developments at Lido recently, our team was able to determine that the price increase could be linked to Ethereum (ETH). At the time of publication, the value of ETH was at $2,653, which corresponds to an increase of 18.48% – a similar performance to LDO. This suggests that tokens associated with the Ethereum blockchain are likely to move in the same direction as ETH.

Lido’s support for Ethereum after the merge means that it falls into this category. A look at the prices of Arbitrum (ARB) and Optimism (OP) showed that they too followed ETH.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

In addition to the LDO price, there were also other movements in the Lido Finance ecosystem. According to an analysis of data from DeFiLlama, Lido’s Total Value Locked (TVL) has increased significantly. At the time of publication, the TVL was at $24.77 billion, which corresponds to an increase of 19.13% in the same period in which the LDO price rose to $3.79.

The significance of the rise in TVL

The rise in TVL shows the relevance of the Lido project in the market. It also shows increased activity on the protocol created under the Lido protocol, as market participants trust the ecosystem to give them more returns.

It is worth mentioning that this TVL value is the highest since the introduction of Lido. Another indicator that reached a peak were the active addresses. According to Santiment, the 24-hour active addresses of LDO reached 1123 on January 11.

Active addresses and bullish signals

Active addresses show the daily interaction or speculation level around a token. Therefore, the increase in this indicator suggests that many addresses were involved in LDO transactions. This is considered a bullish signal.

If network activity continues to rise, LDO could rise to $4 in the short term. Similarly, social dominance rose to 0.40% on the same day. Social dominance measures the unique social volume associated with a project. For Lido, the increase means an interest in the project.

Outlook for LDO

Despite recent movements, the LDO price could decline. However, investors should keep an eye on the ETH price. If the altcoin rises to $3,000 as predicted in some forecasts, LDO could reach a new all-time high.

Sources: IntoTheBlock, DeFiLlama, Santiment

Share on Facebook Share on Twitter

The 3 best crypto casinos

100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (11)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 14 days for deposit bonus
7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Isabella Brown on 10. June 2024
Anjuan Gaming
Anjouan
Licence
Curaçao License
Curaçao
Licence
Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
Cryptocurrencies (25)
  • Toncoin
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x deposit + bonus
40x free spins winnings
Minimum deposit 0.00034 BTC or equivalent
Maximum bet 0.00003 BTC or equivalent
Bonus validity 30 days to claim
14 days to wager
  • Minimum deposit: 0.048 BCH • 0.0068 ETH • 0.26 LTC • 154 DOGE • 20 USDT • 40 XRP • 180 TRX • 48 ADA • 0.04 BNB • 20 BUSD • 20 USDC.
  • Maximum bet per round: 0.005 BCH • 0.0007 ETH • 0.03 LTC • 15 DOGE • 2 USDT • 4 XRP • 19 TRX • 4.8 ADA • 0.004 BNB • 2 BUSD • 2 USDC.
  • Free spins are credited on “Max Miner” by Gamebeat, 20/25 free spins per a day.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 19. June 2024
Curaçao License
Curaçao
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Michael Schmitz on 14. June 2024
Curaçao License
Curaçao
Licence

Latest News

Created by

I have enjoyed following the international iGaming industry since my first encounter at the age of 23. Fascinated by its diversity and complexity, I was hooked and have never left the industry since. Here at KC, I am a proud member of the founding team as well as the content team. We use everyone's knowledge to find every possible flaw in a casino so you can relax and play.
Reviewed by
Nerd of Numbers

Last update: 11. June 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.

Compare Casinos Choose up to 3 casinos to compare