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Tag: Lido DAO

  • Lido DAO News: Will LDO Price Crash to 0 in July?

    Lido DAO News: Will LDO Price Crash to 0 in July?

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    In this article, we’ll try to break down what Lido DAO is and the factors behind the price decrease of its LDO token. Let’s take a look at the LDO price prediction article in more detail.

    What is Lido DAO (LDO) Token?

    Lido DAO (Decentralized Autonomous Organization) is a major force in the cryptocurrency world, especially within liquid staking protocols. It functions as a decentralized body that oversees these protocols by making essential decisions, such as setting fees, assigning node operators, and choosing oracles. These decisions are driven by the voting power of LDO token holders, who play a key role in the governance of the DAO.

    How has the LDO Price Moved Recently?

    LDO/USD Daily Chart- TradingView

    As of now, the price of Lido DAO Token stands at $1.605433, accompanied by a 24-hour trading volume of $303.79 million. With a market cap of $1.43 billion, Lido DAO Token holds a market dominance of 0.07%. Over the past 24 hours, the LDO price has seen a decrease of -4.70%.

    Lido DAO Token reached its peak price on August 20, 2021, hitting an all-time high of $7.28. Conversely, its lowest recorded price occurred on June 18, 2022, plummeting to $0.40454. Since reaching its ATH, the lowest price experienced was $0.40454 (cycle low), with the highest rebounding to $4.00 (cycle high). Presently, market sentiment towards Lido DAO Token leans bearish, as indicated by a Fear & Greed Index score of 27 (Fear).

    Regarding supply dynamics, Lido DAO Token currently has a circulating supply of 892.32 million out of a maximum supply of 1.00 billion LDO tokens. The yearly supply inflation rate stands at a modest 1.45%, resulting in the creation of 12.76 million LDO tokens over the past year. These metrics underscore the token’s controlled inflationary model and its impact on market dynamics.

    Will Lido DAO (LDO) Price Crash to 0?

    The prospect of Lido DAO (LDO) crashing to zero in July seems highly improbable given several key factors. Despite a challenging year with a 14% decline in price, LDO maintains high liquidity supported by its market cap of $1.43 billion. The token’s controlled inflation rate of 1.45% annually also indicates a stable supply management strategy, contrasting sharply with volatile assets prone to rapid devaluation.

    Moreover, LDO has demonstrated resilience within the cryptocurrency market, outperforming 88% of the top 100 crypto assets over the past year, including stalwarts like Bitcoin and Ethereum. Although currently trading below its 200-day simple moving average, suggesting a bearish trend, the token has shown periodic recovery potential with 12 green days in the last 30, reflecting intermittent investor optimism amidst market fluctuations.

    Despite being down 78% from its all-time high of $7.28, the significant decline does not imply an impending crash to zero. Market sentiment remains cautious, indicated by a Fear & Greed Index score of 27, but not outright panic. The recent performance trends and the token’s historical resilience suggest that while further declines are possible, a crash to zero appears unlikely in the immediate future. Investors should monitor market dynamics closely, particularly support levels and broader market sentiment, to gauge LDO’s trajectory moving forward in July and beyond.

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  • Lido Staked Ether takes over XRP in market cap as Ethereum reached $3.2k

    Lido Staked Ether takes over XRP in market cap as Ethereum reached $3.2k

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    Lido Staked Ether has surpassed XRP to become the sixth-largest cryptocurrency, with a market cap of over $31 billion. 

    Lido Staked Ether’s (stETH) bullish market is largely attributed to Ethereum’s significant gains this month, as the second-largest cryptocurrency reached $3,200 today and a 40% surge for the token in February alone. 

    Dune analytics data shows that Ether deposits on Lido are nearing 10 million ETH, as the protocol hasn’t seen any net outflows since Dec. 19th. Currently, Lido Staked Ether accounts for 35% of all EH deposits on EigenLayer, one of the leading platforms that provide access to the Ethereum staked capital.

    Lido Staked Ether represents a tokenized version of staked Ethereum in the Ethereum 2.0 Beacon Chain, facilitated by the Lido decentralized finance (defi) protocol. Lido enables users to stake their Ethereum without locking the assets or maintaining staking infrastructure, thereby addressing some of the key limitations associated with the Ethereum 2.0 staking mechanism.

    Lido Net Deposits | Source: Dune

    At the same time, XRP is underperforming the market rally, losing nearly 2.5% in a week. Despite Bitcoin, Ethereum, and Solana recording notable gains today, XRP’s price has only seen a 0.5% increase. 

    XRP traders are showing a rather cautious sentiment in the market, as the ongoing battle with the SEC is still far from over. If the ruling favors the SEC, it could see XRP paying $2.64 billion in penalties, making 2024 the most profitable financial year for the commission. 

    Despite XRP’s disappointing performance this year, whales have invested $40 million in XRP over the last 10 days. This could suggest a potential buying the dip for the altcoin, which could eventually push XRP to break beyond its resistance level at $0.58 in March. 


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    Mohammad Shahidullah

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  • Crypto Fund Exits BLUR For Lido And IMX—Endorsing DeFi?

    Crypto Fund Exits BLUR For Lido And IMX—Endorsing DeFi?

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    According to Lookonchain data, Sigil, a fund in Gibraltar, has exited BLUR, one of this week’s top-performing tokens, for Lido DAO’s LDO, and IMX, the native token Immutable X–a layer-2 scaling solution primarily dedicated to NFT trading.

    Sigil Fund Sells BLUR For IMX And LDO 

    On November 24, Lookonchain, a crypto analytics platform, noted that Sigil sold 1.55 million BLUR for 807,799 IMX, worth roughly $1.14 million, and 210,905 LDO, trading at $540,000, at spot rates. The exchange was made via multiple transactions and done on-chain.

    The swap comes roughly three days after Sigil withdrew 3.1 BLUR from OKX, a cryptocurrency exchange. Surprisingly, the fund is exiting BLUR when the token has dominated performance in the last few trading days. 

    To quantify, the token has more than doubled this week alone, surging to register new H2 2023 highs above $0.60. BLUR is already up 330% from its 2023 lows and continues to edge higher on rising trading volume.

    BLUR price trending upward on the daily chart | Source: BLURUSDT on OKX, TradingView

    The Gibraltar-based crypto investment fund’s rotation from BLUR into core governance tokens of Lido DAO and Immutable X comes when there is FOMO around the 300 million BLUR airdrop in Season 2. Still, it is not immediately clear what might have advised the fund to exit BLUR–and not simply ride the current ride–for LDO and IMX. 

    In retrospect, the shift could be an endorsement of decentralized finance’s (DeFi) resilience and inherent growth prospects. The rotation of funds into DeFi tokens could also signify a focus on backing decentralized ecosystem building rather than speculative NFT mania, as is currently the case with BLUR, which is rapidly rising, spurred by the Season 2 airdrop.

    LDO and IMX Are Key For DeFi And NFT

    As of November 2023, Lido DAO and Immutable X are some of the core platforms driving crypto and DeFi. Lido DAO plays a crucial role in Ethereum staking, while Immutable X offers a secure NFT trading infrastructure. Though recent troubles at FTX and other CeFi actors like FTX’s partner, Alameda Research, continue to cap upsides, Sigil’s allocation change is an endorsement for DeFi.

    In the future, it is not immediately clear whether LDO and IMX prices will edge higher. For now, it remains on an uptrend but is generally volatile and not galloping higher like BLUR. The token is up 80% from October 2023 lows at press time. Meanwhile, IMX is extending gains at 2023 highs, looking at price action in the daily chart.

    Feature image from Canva, chart from TradingView

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    Dalmas Ngetich

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  • Lido DAO discovered a security vulnerability in Ethereum protocol 

    Lido DAO discovered a security vulnerability in Ethereum protocol 

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    Lido discovered a security vulnerability in Ethereum protocol, involving Node Operator InfStones.

    Liquid staking solution Lido has discovered a security vulnerability on its Ethereum protocol in the last 24 hours, specifically involving one of its Node Operators, InfStones. This issue, initially discovered a few months ago, was formally reported to InfStones in July 2023. InfStones has since confirmed that they have resolved the issue.

    The core of the concern was the potential unauthorized access to root-level privileges on up to 25 validator servers. These servers, not necessarily linked to the Lido protocol, could have exposed sensitive information, including key materials, to external threats. It remains uncertain whether the servers or keys connected to Lido validators were compromised.

    Currently, Lido DAO’s team is collaborating closely with InfStones to conduct a thorough investigation into the breach. This effort aims to ascertain the full extent and potential repercussions of the incident. In the context of this incident, Web3 security experts at Holborn have observed a noticeable increase in the frequency and severity of off-chain attacks in recent times.

    The experts emphasize that this latest incident underscores the need for continuous and comprehensive auditing of infrastructure to preemptively identify and mitigate such vulnerabilities.


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    Mohammad Shahidullah

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