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Lido DAO: Ethereum’s biggest Merge staker soars 400% in July — but technicals flash warning

Published 07/28/2022, 07:21 AM
Updated 07/28/2022, 03:20 PM
Lido DAO: Ethereum’s biggest Merge staker soars 400% in July — but technicals flash warning

Lido DAO (LDO) price has skyrocketed by roughly 400% month-to-date to reach $2.22 on July 28, its highest level in over two months.

LDO price has benefited majorly due to its association with Ethereum, the leading smart contract platform by total-value-locked (TVL) and market capitalization.

Lido DAO working mechanism. Source: Official Website
ETH 2.0 total value staked by provider. Source: Glassnode
LDO/USD daily price chart. Source: TradingView
LDO/USD daily price chart featuring price-RSI and price-volume divergence. Source: TradingView
LDO/USD daily price chart. Source: TradingView

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