Key Points
- Lido Dao’s price has seen a positive trend, leading to a rise in the market cap of liquid staking assets.
- Despite price fluctuations, Lido maintains dominance in Ethereum staking.
Lido Dao’s Price Rise
As the previous week ended and a new one commenced, Ethereum saw a minor rebound. A similar trend was observed in Lido Dao.
The volume of staked Ethereum continued to increase, and the dominance of the DAO remained. Liquid staking assets performed well over the weekend, with Lido being a notable gainer.
Market Capitalization of Liquid Staking Assets
The market capitalization of liquid staking assets rose by over 5%. Specifically, Lido Dao demonstrated a significant increase of over 5% during this period.
Lido Dao’s price trend showed a positive trajectory at the end of the previous week. On 27th April, LDO’s trading price was approximately $2.05, a notable increase of over 5%. The upward trend continued on 28th April, with a further 3% increase, pushing the price to around $2.12.
At the time of writing, it was trading at about $2.13, a slight increase of less than 1%. If this trend continues, it will mark the first and only three consecutive days of uptrend for LDO in the month.
However, despite these positive movements, the Relative Strength Index (RSI) suggests that LDO remains in a bearish trend. The RSI was below the neutral zone, indicating a prevailing bearish trend in recent months.
Lido’s Dominance in Ethereum Staking
Despite the price fluctuations, Lido continues to dominate Ethereum staking. More than 32 million Ethereum have been staked, accounting for over 27% of the total supply. Lido contributes significantly to this figure, representing 28% of the total staked ETH, which equates to over 9.3 million ETH staked through Lido.
Staking activity has increased by approximately 6% over the last six months, indicating Lido’s continued dominance in Ethereum staking. However, recent data shows a decline in staking netflow over the past few weeks, coinciding with decreases in Lido’s native token (LDO) and Ethereum prices.
