Lido DAO (LDO) at a crossroads: Could it explode?
Lido DAO (
$LDO ) is flirting with the bull season with an increase in its total locked asset value.
Ethereum-based liquid staking solution Lido has seen a 25 percent increase in Total Locked Value (TVL) in the last 30 days. Lido’s TVL is approaching its all-time high of $40 billion, which it reached in March. However, despite this growth, the Lido DAO Token (LDO) price may struggle to sustain its upward movement.
Lido’s TVL was at $24.60 billion in November. TVL is a metric that measures the total value of assets locked or staked on a blockchain. An increase in TVL indicates more assets are flowing into the platform and increasing trust in the platform.
An increase in TVL usually leads to increased liquidity, strengthened user trust, and increased demand for the platform’s native token. A decrease in TVL indicates that investors are losing confidence and are withdrawing their assets from the platform.
According to DeFiLlama data, Lido’s current TVL is $38.57 billion, just $2 billion shy of its all-time high. This growth is rekindling confidence in Lido’s ability to deliver competitive returns.
The LDO price has increased by 10 percent in the past 24 hours. One reason for this increase could be the Grayscale Lido DAO Trust. This development indicates that institutional investors will now have access to the Lido DAO Token.
However, In/Out of Money Around Price (IOMAP) data suggests that it may be difficult for
#LDO to reach $3. This is particularly evident due to the strong resistance at $2.32. Approximately 1,400 addresses have accumulated a total of 124.43 million LDO tokens at an average price of $2.32. This is higher than the amount of tokens purchased when the price was between $1.89-$2.22.