Can Ethereum Bounce Change the Game for Lido?

• The price increase of Lido leads to an increase in the market capitalization of the liquid assets held.
• At the time of writing, LDO was trading at approximately $2.13.

As last week came to an end and the new week began, Ethereum [ETH] experienced a slight rebound. Similarly, Dao Pool witnessed a comparable movement.

The data indicates that while the volume of Ethereum staked continued to increase, the dominance of the DAO also persisted.

Lido’s rise helps liquid betting market capitalization

Sentiment data indicates that liquid staking assets saw favorable performance over the weekend, with Lido being one of the notable gainers.

Reports show that the market capitalization of liquid holding assets increased by more than 5%. Specifically, LDO demonstrated a commendable increase of over 5% during this period.

How Lido has been trending

Pool Analysis The Dao price trend on a daily time chart revealed a positive trajectory at the end of the previous week.

On April 27, LDO saw a notable rise of over 5%, reaching a trading price of approximately $2.05. The next day, April 28, the uptrend continued with a further 3% increase, bringing the price to around $2.12.

At the time of writing, it was trading at approximately $2.13, up slightly by less than 1%.

If this trend persists until the end of April 29, it will mark the first and only three consecutive days of uptrend for LDO in the month. Prior to this, the last occurrence of such an uptrend was observed in March and occurred only once.

Furthermore, analysis of its Relative Strength Index (RSI) indicates that despite recent positive moves, LDO is still in a bearish trend.

At the time of writing, the RSI was below the neutral zone. Closer examination suggests that since February, the LDO has not maintained a prolonged period above the neutral zone, indicating a predominant bearish trend in recent months.

However, despite the price fluctuations, the platform continues to maintain dominance in Ethereum staking.

Lido Gets Most Stakes on Ethereum

According to data from Dune Analysis, more than 32 million Ethereum have been staked so far, representing more than 27% of the total supply.

Notably, Piscina contributes significantly to this figure, representing 28% of the total ETH staked. This equates to over 9.3 million ETH staked through Lido.

Is your wallet green? Check the Lido Earnings Calculator

Additionally, the data reveals that staking activity has increased by approximately 6% over the past six months, indicating the platform’s continued dominance in Ethereum staking.

However, a closer examination of the data also reveals a recent decline in net betting flow in recent weeks. This decline has coincided with declines in the prices of Lido’s native token (LDO) and Ethereum.

This is an automatic translation of our English version.