16 mins ago | 2 mins read
Altcoin News - Lido DAO is up by over 6.5% in the last 24 hours
- Lido DAO trading volume spikes more than 50%.
The majority of high-market-cap cryptocurrencies began their rise in the early morning. As the leading cryptocurrency Lido DAO (LDO) kicked off the week on a high note with a significant price rally. The altcoin recorded a more than 6.5% price surge within the last 24 hours.
The cryptocurrency market is boosted by Bitcoin’s new price increase. That helps the market begin the new week on a rising note. Today, Lido DAO climbed to the $2.23 price range, while the top cryptocurrencies, such as Cardano (ADA) and Polygon (MATIC), had no changes in their prices.
Bulls Eyes on Lido DAO
Lido DAO is the liquid staking option for Ethereum. The recent Lido ecosystem’s price optimism is fueled by the release of Lido V2, which was carried out in mid-May. Also, LDO has drawn interest and gained momentum in the cryptocurrency market. The token has been trading upward for the past week, which is still ongoing.
At the time of writing, Lido DAO traded at $2.22. In the previous seven days, the coin’s trading price shot up by about 9% and has jumped over 135% in the year to date. Moreover, Lido DAO signals a significant bullish rally as the current price is above the moving average (MA).
Also, BTC, ETH, and LDO are moving in a similar direction. This shows that the price of LDO increases or decreases in response to changes in the price of BTC and ETH, respectively.
Further, LDO is up 6% more than BTC and ETH. In addition, the total market cap of the crypto reached about $1.95 billion, which soared by around 6%. Moreover, Lido DAO growth significantly contributed to a 50% spike in the total trading volume, according to CMC data.
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