- Lido Dao’s governance token quickly climbed the level of $ 1.5
- The upgrade of Lido V3 seemed to increase the bullish feeling at all levels
Lido Dao (LDO) introduced Lido V3, an upgrade that adds flexibility to Lido on Ethereum (ETH). Lido is the largest liquid implementation protocol with more than $ 25.5 billion of total locked value (TVL) and allows users to put their assets and receive Steth in return. In turn, this can be used in decentralized financing applications (DEFI) while the user always wins the implementation rewards.
The upgrade presents STVAULTS (vault jump), which are modular intelligent contracts which allow the users, specifically institutional, to adapt the configurations of jealousness. This means that parameters such as validation, expense structures and risk reward profiles, among others, can be configured to meet the needs of a wide variety of stakers.
As a token and governance token native of the platform for Lido Dao, LDO has seen a certain appreciation of the prices after the news. Therefore, the question – should investors add the token to their wallets now?
LDO bounces low -end, feeling 9 months high
Source: LDO / USDT on tradingView
The Lido Dao governance token has been exchanged in a range since December. He seemed to fall below the stockings last weekend, but quickly rebounded at more than $ 1.5.
And yet, its technical indicators have been lowered. The CMF was less than -0.05 to highlight significant capital outputs, and the MacD was less than the zero line – a sign of lowering.
Source: Santiment
The feeling of the crowd also resumed, climbing at a 9 -month summit, as observed by the analyst of Santiment, Brian.
This also came at a time when most of the Altcoin market flashed down basing signals. The increase in whale activity could also be a sign of LDO token accumulation.
Source: Santiment
Other chain metrics have shown a range for LDO growth. The average age of the room (MCA) fell towards the end of January because the price experienced a correction of the peaks of the fork at $ 2.4. However, during last week, the MCA slowly started climbing higher again.
Dormant traffic did not correspond to the fall of the MCA in recent weeks, and the absence of a major peak in this metric suggested that the holders in the medium term were happy with Hodl LDO. Finally, the MVRV report was in negative territory, showing that the holders were slightly lost. This, combined with the recent retest of a local range, presented an opportunity to buy Lido.
