Lido DAO (LDO) Token Records a Surge in the Number of Holders, Market Cap Advances by 5.3%

A surge in the number of holders of the token was recorded over the last few days. Additionally, 53.37% of the supply is held by the top 10 holders

The price of Lido DAO (LDO) has increased by 5.3% over the last 24 hours reaching a market cap of $1.487 Billion and ranking 53rd among all the cryptocurrencies in the global crypto market.

The market cap dominance of the token is 0.07%, reflecting a strong presence in the crypto market. The supply inflation of the crypto is also very low at (1.45%).

The volume/market cap ratio of the Lido DAO token is 8.53%, reflecting good liquidity. This makes it easier to buy and sell the crypto in different market conditions.

The token incentives have surged in the last 30 days. This shows that more tokens are being distributed among the users as incentives.

The circulating market cap of the token has been declining over time while the TVL has been stable. This shows that despite the decline in crypto price, users have confidence in its project.

LDO/USD Chart by TradingView

LDO is trading below the 50-day and the 200-day EMA followed by a strong downtrend. The supertrend on the chart further gave a sell signal which shows a high probability of a further decline in the price.

The MACD is also negative on the charts as the MACD and the signal line are trading in a death cross below the zero level. The RSI also follows a bearish cycle followed by the RSI trading below the 14-day SMA. It further has sustained below the 50-level for a long time.

The support levels for LDO are $1.0 and $1.20, followed by the resistance levels at $3.0 and $4.0.

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