Lido DAO (LDO) Rallies 10% as Market Awaits Clarity on SEC\'s Staking Service Probe

Lido DAO (LDO) is a key player in Ethereum's liquid staking protocol. It has seen a big jump in its market cap and trading activity recently.

Lido DAO (CRYPTO: LDO) has seen a big jump in its market cap and trading activity recently, following news of the SEC’s claims against Lido and Rocket Pool, and changes related to ETH ETF issuers.

What Happened: LDO’s price showed a slight increase on Friday, responding to the broader market movements and recent news. Investors showed positive sentiment towards the token, as its price showed a 1.05% increase in the last 24 hours. At the time of writing, the token is priced at $1.97.

Lido DAO’s market cap stood at $1.8 billion, ranking it #52 on CMC, with a 2% increase in the last 24 hours. This value indicates investors’ confidence and optimism regarding the token. Moreover, the trading volume saw a significant increase of 55% to reach $185 million, showcasing a lot of activity in the market.

According to DeFiLlama, Lido DAO has a Total Value Locked (TVL) of $33 billion, highlighting the platform’s importance in the crypto world. Additionally, Lido’s liquidity is at $22 million, and its annualized fees have reached a staggering $1.077 billion. The platform’s annual revenue is $107 million, showcasing its strong performance.

LDO’s increase also aligns with the broader market movements and recent news, such as the SEC’s claims against Lido and Rocket Pool, and changes related to ETH ETF issuers, impacting the ups and downs.

In theory, decentralized LSTs pose less risk and have more transparency than centralized staking services, so SEC has no basis to discriminate against them.

In practice, the way SEC attacks Rocket and Lido in the Consensys complaint signals trouble ahead.

Despite this, LDO is still significantly lower than its all-time high of $11.00, reached on November 16, 2021, showing an overall drop of 82.05%.

Technical Analysis: RSI And SMA Suggest BullishnessLido DAO (LDO) has been showing strength in recent trading sessions. The token faces immediate resistance at $2.10, with potential breakout levels at $2.30 and $2.50.

On the support side, $1.90 and $1.70 are important levels to watch. The 50-day and 200-day simple moving averages (SMA) are at $1.85 and $1.60, respectively, indicating a positive trend.

Additionally, the 20-day exponential moving average (EMA) is around $1.95. The Relative Strength Index (RSI) is at 59, suggesting moderate positive momentum and a potential for an uptick any time soon.

Potential Price Trajectory: Lido DAO’s stability over the last few days suggests a potential rise in the positive trend. If this momentum continues, LDO could surpass the $2 mark, aiming for $3 and $5 soon.

However, market sentiment plays a crucial role. If the sentiment worsens, Lido DAO’s price might stabilize around $1.90. In extreme cases, it could drop to as low as $1.5, showcasing the ups and downs of the crypto market.

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