• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
LDO
Sensei Inu Logo

LDO Leads Top Coins, Registers 6% Gains In One Day

Kent Glory by Kent Glory
4 months ago
in Cryptocurrency Market News
Reading Time: 3 mins read

Lido DAO (LDO) price gains today suggest the bulls are determined to push it to the $2.5 mark as the broader crypto market cap increased in the last day. 

LDO has joined the top-gaining coins today, June 7, with an over 6% price increase over the past 24 hours. The token closely follows PEPE, which has gained over 12% in the last 24 hours.

LDO Price Surge Amid Improved Market Sentiments

While LDO ranked 6th among top daily gainers, it scored second among top weekly gainers with a 13.48% price increase over the past seven days. Having a high of $2.45 and a low of $2.22, LDO is eyeing the $2.5 price level and might conquer it if the bulls continue to dominate the market.

Related Reading: Chainlink Bulls Must Uphold This Critical Support Line For Potential 8% Rally

According to CoinMarketCap data, Lido DAO has witnessed impressive price performances over the past 30 days. The token price has increased by over 36% in the last 30 days, 20.2% in 14 days, and 13.48% over the past seven days.

The crypto market seems bullish as investors anticipate the May CPI data, which the US Bureau of Labor Statistics will release on June 13. The inflation rate reduced to 4.95% in April from the 5.0% recorded in March against the 5.0% forecasted by economists. This shows that the Fed’s hawkish inflation-curbing strategy is taking effect.

Moreover, given the increasing recession and severe macroeconomic conditions, the Federal Reserve said it would pause the interest rates hike. And that has been reflected in crypto prices as Bitcoin prices pushed higher above $28,000. The sentiments appear higher still, even as investors anticipate the upcoming CPI data release.

At press time, the crypto market cap is up by 2.86%, while the total market volume has increased by 12.13%, rubbing off on most coins.

LDOUSD price chart
LDO’s price is currently trading at $2.36 in the daily chart. | Source: LDOUSD price chart from TradingView.com

Increased Network Activities Propel LDO Price 

The effect of the crypto market volume increase on assets is evident on LDO’s trading volume, which has increased by over 37% in the last 24 hours. That’s not all. According to Stelareum data, LDO total value locked (TVL) is up by 4.59%, against the 5.09% decline recorded on June 6. Lido Analytics also shows that LIDO TVL spiked 7.24% from May 29 to June 5, ending the week at $13.54 billion.

As of June 5, LDO staking led on Ethereum with a net deposit of 264.99K ETH, followed by an unknown contract with 215.68K ETH deposits. That suggested increased trading activities on the protocol, which could also push the LDO price.

Related Reading: Bitcoin Casino Canada: The Best Sites for Crypto Gambling 2023

Meanwhile, LDO technical analysis on TradingView flags a strong buy signal. LDO’s price has climbed above all the Exponential and Simple Moving Averages but remains below the Hull Moving Average at 2.360. Chances are high that the token would push above the $2.5 mark if it can conquer the Hull Moving Average.

Featured image from Pixabay and chart from TradingView.com
Tags: cryptocurrencyLDO analysisLDO priceLDOUSD
Tweet123Share196ShareSend
Kent Glory

Kent Glory

Kent is a passionate freelance writer and journalist. She loves digging deep and writing to inform readers. She wants everyone to make wise decisions only.

Related Posts

FTX

FTX Exploiter Executes Ongoing Funds Exodus, Moves $17 Million In ETH In One Day

10 hours ago
Bitcoin

Crypto Analyst Tips Bitcoin (BTC) To Reach $40,000 In Q4 2023

11 hours ago
Ripple

XRP Price Threatened As Ripple Unlocks 1 Billion Coins

13 hours ago
Bitcoin Cash

Bitcoin Cash Bulls Charge: 13% Price Rally Driven By Fresh Demand

18 hours ago
Ether Futures

FTX Exploiter Transfers 5,000 ETH Ahead Of Ether Futures ETF Launch

1 day ago
Ethereum ETF

Ethereum ETF: Valkyrie Halts Purchase Of ETH Futures Contracts

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Investing in Trading 212: Is the Risk Worth the Reward?

    2 days ago
  • Bitcoin Spark: Cross-Chain with Polygon, BSC, and Cosmos

    3 days ago
  • Explosive Surge: Curve DAO and Everlodge on a Wild Pumping...

    3 days ago
  • The DeFi Big Three: Solana (SOL), Chainlink (LINK), and...

    3 days ago
  • Plus 500 Reviews Get Moderate Risk Rating From Trading...

    3 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.