Connect with us
Active Currencies 14778
Market Cap $2,557,616,555,646.10
Bitcoin Share 51.24%
24h Market Cap Change $0.70

Lido DAO investors can expect this ahead of the final token unlock

2min Read

Lido will inject 8.82 million tokens into the market on 25 August as a part of its final cliff unlock.

Lido DAO investors can expect this ahead of the final token unlock

Share this article

  • Lido DAO’s circulating supply will reach its maximum after the upcoming unlock.
  • LDO’s metrics and market indicators remained bearish.

Lido DAO [LDO] is awaiting its final cliff unlock this month, which will push its circulating supply to the maximum. As a few weeks remain before the unlock, investors should pay attention to LDO’s price movements before making any decisions on the token. 

Read Lido DAO’s [LDO] Price Prediction 2023-24

Interestingly, after weeks of decline, LDO’s daily chart finally turned green, giving hope for a trend reversal over the coming days. However, despite the hike in price, bearish sentiment around LDO dominated the market. 

Lido DAO to witness it’s finally unlock soon

Token Unlocks’ data revealed that Lido will undergo its final cliff unlock of 8.5 million on 25 August 2023. With this, LDO will inject the final 0.97% of its supply into the market, which will increase its circulating supply to 1 billion.

As of now, LDO has a circulating supply of 878,816,037 LDO. 

Source: Token Unlocks

Before Lido DAO witnessed its last token unlock, its price action showed signs of recovery. After weeks of decline, LDO’s daily chart was painted green as its value increased marginally. As per CoinMarketCap, LDO’s price increased by 0.46% in the last 24 hours. At press time, it was trading at $1.86 with a market capitalization of over $1.6 billion.

However, the positive price action did not help improve market sentiment. LunarCrush’s data revealed that the token’s bullish sentiment dropped by 52% while its social dominance declined by 50% in the last 24 hours.

A look at Lido DAO’s metrics pointed out that the token was still under selling pressure. Its supply on exchanges went up while its supply outside of exchanges dropped, which is a typical bearish signal.

Additionally, whale activity around LDO has also decreased over the last few days, as evident from its whale transaction counts. 

Source: Santiment

Lido DAO’s chart might turn red again 

LDO’s network activity also registered a decline last week. This was evident from the drop in its daily active addresses. LDO’s network growth also plummeted.

A decline in the metric means that fewer new addresses were created to transfer the token. A similar trend was also noted in terms of its velocity. 

Source: Santiment

Realistic or not, here’s LDO’s market cap in BTC terms  

A look at LDO’s daily chart gave more reasons for concern. The MACD displayed a bullish upperhand in the market. Lido DAO’s Exponential Moving Average (EMA) Ribbon also displayed a bearish crossover, increasing the chances of a price decline.

Nonetheless, the Relative Strength Index (RSI) moved up slightly and was headed towards the neutral mark, which gave hope for a continued price uptick. 

Source: TradingView


Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.