LDO (Lido DAO) rose 15.51% in the last 24 hours.

Gate News Bot news, July 18, according to CoinMarketCap data, as of the time of writing, LDO (Lido DAO) is currently priced at $1.08, having risen 15.51% in the last 24 hours, reaching a high of $1.09 and a low of $0.79, with a 24-hour volume of $392 million. The current market capitalization is approximately $966 million, an increase of $130 million compared to yesterday.

Lido is a liquid staking protocol that has been providing support and security for Ethereum since 2020. stETH is the leading liquid staking token for Ethereum, offering best-in-class security, the deepest liquidity, and competitive rewards. The Lido protocol operates through over 800 independent node operators using both permissioned and permissionless modules, ranging from professionals to home stakers.

Important news about LDO recently:

1️⃣ Whales buying large amounts of LDO drive the price rise Recently, large holding addresses have accumulated 7.28 million LDO tokens, and this large-scale buying behavior provides strong support for the LDO price. Whale activity is often seen as an indicator of market confidence, and this concentrated buying is likely one of the main reasons for the significant rise in the LDO price.

2️⃣ LDO options open interest significantly rises The open interest in the LDO options market has surged by 30% in a short period, indicating that traders' interest in the future price trends of LDO has significantly increased. The increase in the activity of the options market usually brings more liquidity and price volatility, which may be another important factor driving the rise in LDO prices.

3️⃣ Ethereum's new staking module attracts market attention The Ethereum network is about to launch a new staking module. As a leading Ethereum staking service provider, Lido DAO is expected to benefit from this. The market anticipates that this update may increase demand for Lido services, thereby bringing potential value rise for LDO tokens.

From a technical perspective, the LDO price is currently approaching the key resistance level of 2.20 USD. A breakout above this resistance level could further drive the price rise, while failure to break through may lead to a short-term pullback. Meanwhile, on the fundamental side, Lido DAO continues to optimize its staking services, which helps to consolidate its leading position in the Ethereum ecosystem.

This message does not constitute investment advice; investors should be aware of market volatility risks.