• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
LDO

LDO Leads Top Cryptocurrencies, Rises 20% In The Last Day

Jammy Hunts by Jammy Hunts
2 weeks ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement
Advertisement

The crypto market has been painted green today, with many cryptocurrencies trading at massive 24-hour gains. It appears that last week’s bears have given way to the bulls. But as analyst McGlone predicted, the February CPI data release will show the fate of most coins in March.

With cryptocurrencies enjoying notable gains, Lido Finance’s LDO emerged among the top-gaining coins with a 20% price increase in 24 hours. At press time, LDO is trading at $2.51, with a 72.27% increase in trading volume over the past 24 hours.

Related Reading: Cardano (ADA) Price Rally Reaches Crucial Juncture, $0.35 Is The Key

Lido DAO (LDO) Rebounds From Its Past Week’s Bearish Trend

The recent news of the collapse of crypto-friendly banks, Silicon Valley, and Signature banks left the crypto market with fear and uncertainty. The Fear and Greed Index crashed to 33, leaving Bitcoin and altcoins with massive price declines. As of March 12, LDO closed the day at $2.15 but later rose to $2.45 on March 13, a notable increase from the previous day’s price.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Lido Finance threaded a bearish trend over the past week following the announcement that MixBytes is dropping Lido. In the statement, the MixBytes team said it would quit developing and technically supporting Lido on Polkadot and Kusama liquid staking protocols. That was a huge setback for LDO, resulting in a massive decline in price.

After the announcement, many liquid Polkadot and Kusama liquid stakers withdrew from the Lido Finance protocol. The move negatively impacted the LDO price and Total Value Locked (TVL). Data from DeFilama shows that Lido’s TVL declined by 5.7% following MixBytes’ announcement. 

But LDO has bounced back with a 20% price increase over the past 24 hours. LDO did not only witness a price increase over the past day, but its trading volume surged by 72.86%. It suggests the Lido community has recovered from the shock of MixBytes’ announcement.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Despite market conditions, the Lido network still pursues expansion. Lido recently announced its launch on Ethereum L2s with successfully wrapped staked Ethereum (wstETH) on Optimism and Arbitrum. 

According to the Lido development team, the coming deployment target would be Polygon. These development steps would improve access to staked ETH while positively influencing LDO price.

LDOUSD
TradingView.com

LDO Price Outlook

LDO has consolidated on its gains today, trading closer to the $3 price level on the daily chart. Despite the price decline between March 8 and March 11, 2023, the bulls have rallied to increase the asset’s price again. 

Lido DAO is still trading below its 50-day Simple Moving Average (SMA). However, the wick on today’s candle is breaking above the indicator. It implies that the buying pressure in the market is high and might translate to an uptrend.

The asset has remained above its 200-day SMA, a long-term bullish sentiment for LDO. The candlestick on March 12 formed a bullish engulfing pattern that could trigger the next bull run for Lido DAO. 

Related Reading: Crypto Exchange Coinbase And Others Disclose Funds In Shuttered Signature Bank

Lido DAO’s support levels are $1.81, $1.94, and $2.19, with resistance levels at $2.57, $2.69, and $2.95. LDO will likely test the $2.57 resistance level before it experiences a price pullback in the coming weeks. However, a drop to the $2.19 support is still a distant possibility if the bears prevail.

Featured image from Pixabay and chart image from TradingView.com
Tags: cryptocurrencyLDO analysisLDO tokenLDOUSD
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Jammy Hunts

Jammy Hunts

Related Posts

Bitcoin Bull

Bitcoin Net Taker Volume Nears In On Bullish Crossover

1 hour ago
XRP

John E. Deaton Claims XRP Is The Top Altcoin With A Comeback Story

3 hours ago
Ethereum Layer 2

Arbitrum, Optimism, And Polygon: Which Is The Ultimate Ethereum L2?

6 hours ago
Bitcoin price

Bitcoin Price Reclaims $28,000 Territory Amid Mounting Market Pressures

6 hours ago
Bitcoin price up

Why Is The Bitcoin Price Up Today?

7 hours ago
Sam Bankman-Fried

Sam Bankman-Fried Faces New Charge For Bribing Chinese Officials With $40 Million

8 hours ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago
  • 6 Crypto Predictions for 2023

    1 week ago
  • New Cryptocurrency to Invest: 3 Crypto Gems of 2023

    2 weeks ago
  • 5 Best Crypto to Buy Now in March’ 2023

    2 weeks ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • The Future Of The Crypto Industry And One Of Its...

    2 hours ago
  • Don’t Miss TMS Network (TMSN) 100x Growth Train; Algorand...

    5 hours ago
  • Riding The 2023 Bull: How Bitcoin, Ethereum, And SignUp...

    6 hours ago
  • Three Unique Top Presales To Buy in 2023: RobotEra...

    6 hours ago
  • Meta Masters Guild On Track to Become Web3’s Largest...

    7 hours 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.

Links

Crypto Prices from Nomics

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

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.