LDO ( Lido DAO ) 24 hours rise 10.86%

Gate News Bot Message, July 10, according to CoinMarketCap data, as of the time of writing, LDO ( Lido DAO ) is currently reported at $0.79, a rise of 10.86% in the last 24 hours, with a peak of $0.80 and a low of $0.71. The current market capitalization is approximately $710 million, an increase of $69.6 million compared to yesterday.

Lido is a liquid staking solution that provides services for blockchain networks like Ethereum. Users can stake ETH through Lido to receive stETH tokens, allowing them to continue participating in the DeFi ecosystem while earning staking rewards. Lido is operated by a distributed network of validator nodes and governed by DAO, dedicated to achieving decentralization and security.

Important recent news about LDO:

1️⃣ Whale addresses are accumulating a large amount of LDO Recently, a large address has accumulated approximately 7.28 million USD worth of LDO tokens. This large-scale accumulation behavior indicates that institutional investors hold an optimistic attitude towards the long-term development of LDO, which may become one of the important factors driving the rise in LDO prices.

2️⃣ Open interest in the futures market surges The open interest in LDO futures markets has risen sharply by 30% in a short period, indicating a significant increase in traders' attention to the future price trends of LDO. This change in market sentiment may trigger more investors to participate, further driving the price of LDO up.

3️⃣ Technical breakthrough of key resistance level The LDO price has recently broken through the key resistance level of $2.20. Although it encountered some resistance afterward, this breakout still demonstrates strong pump momentum. The improvement in technicals may attract more technical analysts to pay attention to LDO, thereby bringing more buying interest.

From a technical perspective, LDO has recently shown a clear rise trend, but it may face some pullback pressure at high levels. On the fundamental side, Lido, as a leading Ethereum staking service provider, has its development prospects closely related to the overall development of the Ethereum ecosystem.

This message is not intended as investment advice; investors should be aware of market volatility risks.