Lido DAO – Mapping LDO’s path to $1.17 after 17% daily gain
Main Idea
Lido DAO (LDO) surged 17% in 24 hours due to strong buying activity, whale involvement, and increased futures trading, though profit-taking and short positions pose potential risks.
Key Points
1. LDO's price rose 17.69% to $1.119, supported by a 232% increase in trading volume ($225M) and a 16.27% rise in market cap ($987M).
2. Investors aggressively bought the dip after LDO hit a local low of $0.85, with spot buy volume significantly outpacing sell volume (6.32M vs. 721K).
3. Whales re-entered the market, driving a 32.2% jump in Open Interest ($225M) and a 199% surge in Derivatives Volume ($537.8M), though short positions dominated at 53%.
4. Profit-taking emerged as LDO's Spot Netflow turned positive, hitting a 3-week high of $3.36M on August 8, indicating increased exchange inflows.
5. Technical indicators like the RSI (60) and a bullish crossover of long-term MA suggest upward momentum, but a pullback to $0.891 is possible if selling intensifies.
Description
LIDO DAO surges 17% in 24 hours as whales short the market
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