LDO Price Analysis July 2022

LDO is a token of the platform Lido. Its current price is around $1.40 by the time of writing, with a low of $0.406, and its market cap is 438 million dollars.

What is Lido?

Lido DAO is an open and non-custodial staking solution for Ethereum-based blockchains and Terra and Solana. It allows users to stake tokens pooled into a contract on PoS-enabled blockchains. Users who stake these assets receive another version of the same token. Users can use this new token to buy or sell different items on the market. With Lido, a decentralized autonomous organization (DAO) allows supporters of Ethereum who pledged ether (ETH) ahead of the blockchain’s merge to proof of stake (PoS). It is the largest of the Ethereum staking services.

What is LDO?

LDO is the coin of the Lido platform, which is around $1.40 by the time of writing, with a low of $0.406. It reached $18.6, and its current ranking is #78 according to CoinMarketCap, with a market cap of 438 million dollars. LDO is a governance token that can be staked on its platform. The holders of LDO can vote for the platform’s fees, whether to integrate new blockchains, and the management of its treasury.

LDO Coin Market Analysis 

LDO has a total supply of 1,000,000,000 coins worth around $1.40 with a market volume of 50 million dollars, whereas the market capitalization is 438 million dollars at writing. 

LDO Price Prediction

Most online forecasters predicted a steady rise, but LDO can be volatile, so investors should always be sure to buy more than they can afford to lose. In the 4H timeframe, the price action of $LDO/USDT has broken the horizontal support zone, which is going to its major resistance zone.

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Ldo  Price Chart July 2022
LDO Price Chart July 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.

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Pratyaksh

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