The LDO token price has surged to its highest point since early August, reaching a remarkable $1.32, after climbing above the $1.50 mark in mid-August. Though recent volatility remains, on-chain metrics paint a picture of strong long-term bullish momentum for Lido Finance. 💰 📈 ⬆️ 📈 ⬆️ 📊
Despite short-term price fluctuations, the LDO chart showcases a sustained upward trend fueled by solid fundamentals. 🚀
On-chain data reveals a surge in Lido’s TVL, reaching $42 billion earlier this quarter before dipping slightly to $37.88 billion. This impressive increase signals growing trust from both users and institutional investors. 📈 🚀
Revenue data further highlights the project’s financial stability, demonstrating steady growth this quarter. The latest revenue figure stands at $148,000, a significant jump compared to previous quarters. 📊
LDO price is driven by growing confidence and positive signals from the market.
Derivatives data reinforces this optimism. Funding rates have been mostly positive, with the latest reading standing at a modest 0.003%. This suggests bullish bias among leveraged traders. 💰 📈 💪
Open interest has also surged to $158.14 million from a low of nearly $18 million earlier this quarter, signaling increased market activity and possible directional shifts in the near term. ⬆️ 🚀 🚀
Technical analysis suggests key breakout zones on the LDO price chart. After a recent rejection at resistance levels, LDO retraced towards its 20-day EMA while holding above the 50-day EMA – indicating strong bullish demand and potential for future growth. If buyers can reclaim and sustain above the $1.50 resistance, it could signal a decisive breakout, paving the way for a potential rally toward the crucial level of $4. 🚀 📈