LDO Price Analysis August 2022

LDO is a token of the platform LIDO. Its current price is around $2.56 by the time of writing, with a low of $0.406, and has a market cap of 800 million dollars.

What is LIDO?

LDO is a platform for staking coins to gain returns on your holdings, primarily ETH. They provide a platform for pools of token assets to be staked on popular PoS-based blockchains, such as Ethereum.

LDO is a liquid staking solution for Ethereum by total value deposited. This means that users can participate in the proof-of-stake chain and get daily rewards for their contributions.

What is LDO?

LDO is the coin of the LIDO platform, which is around $2.56 by the time of writing, with a low of $0.406. It reached a high of $18.62, and its current ranking is #62 according to CoinMarketCap, with a market cap of 800 million dollars. 

The LDO DAO token (LDO) is the governance token for LDO DAO, which also acts as an in-protocol currency used to vote on protocol, governance, and treasury parameters.

It is a blockchain-based decentralized organization and voting protocol that provides the flexibility to vote on protocol and treasury parameters.

LDO Coin Market Analysis 

LDO has a total supply of 1,000,000,000 coins worth around $2.56 with a market volume of 84 million dollars, whereas the market capitalization is 800 million dollars at writing. 

LDO Price Prediction

LDO DAO token is a relatively high-risk investment; there is always a chance it will go up, but there is also some probability that it could fall. However, this token’s good use case, well-designed strategy, and big community make the LDO project more likely to succeed.

On the 4H timeframe, the price action of $LDO/USDT consolidates inside the rising wedge. Currently, it is working above the support trendline of the wedge. We must wait for a successful breakout or breakdown to confirm its next move.

On-demand analysis on $LDO or any other coin can join our Telegram channel anytime.

Ldo Price Chart August 2022
LDO Price Chart August 2022

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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