Lido DAO Price Prediction 2024: What is LDO?
What's next for Lido DAO?
Key Takeaways
- Lido DAO’s LDO token has shot up in recent weeks.
- LDO supports a staking network.
- Can it build on recent success?
- One LDO price predictions says LDO can reach $13.17 next year.
Lido DAO’s LDO token went on an upsurge in late 2023 and early 2024 as the market thrived. The token, which helps power a staking platform, was also boosted by new upgrades for the system’s nodes.
Lido DAO did not immediately respond to a request for comment.
But what is Lido DAO (LDO)? How does Lido DAO work? Let’s see what we can find out, and also take a look at some of the Lido DAO price predictions that were being made as of January 10, 2024.
Lido DAO Price Prediction
Let’s examine some of the Lido DAO price predictions being made on January 10 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $8 | $8.98 | $28.13 |
| Prediction #2 | $9.41 | $13.17 | $31.98 |
| Prediction #3 | $4.37 | $7.84 | $19.61 |
First, CoinCodex had a short-term Lido DAO price prediction that said the token would drop to $3.59 by January 15 before recovering to $3.85 by February 9. The site’s technical analysis was highly bullish, with 26 indicators sending positive signals and just two making bearish ones.
Lido DAO Price Prediction for 2024
DigitalCoinPrice said LDO would reach $8 this year, while Bitnation said it would trade at $9.41. CaptainAltCoin said it would close 2024 at $4.37.
Lido DAO Price Prediction for 2025
Moving on, DigitalCoinPrice’s Lido DAO price forecast said the token would stand at $8.98 in 2025. Bitnation said it would be worth $13.17 then. CaptainAltCoin said it would reach $7.84 next year.
Lido DAO Price Prediction for 2030
Looking at a more long-term Lido DAO price prediction, DigitalCoinPrice said it would trade at $28.13 in 2030. Bitnation said it would reach $31.98 then. CaptainAltCoin’s LDO price prediction said the token would be worth $19.61 at the start of the next decade.
Google BardAI Price Prediction for Lido DAO (as of January 10)
Google’s BardAI platform gave the following price prediction for Lido DAO on January 10. Please remember that price predictions are very often wrong and that artificial intelligence should not be trusted.
Short-term (3-6 months):
- Potential range: $0.07 – $0.12
- Reasons:
- Market sentiment: Currently in “Extreme Greed” territory, potentially leading to a correction or sideways movement.
- Global economic conditions: Uncertainties and potential recessionary pressures could dampen enthusiasm for riskier assets like crypto.
- Crypto.com developments: Continued platform updates and ecosystem growth could offer upward momentum.
Medium-term (6-12 months):
- Potential range: $0.10 – $0.20
- Reasons:
- Cronos ecosystem growth: Increasing dApps, DeFi projects, and user adoption could boost demand for CRO.
- Crypto.com marketing efforts: Expanding partnerships and user base could bring wider exposure to CRO.
- Overall cryptocurrency market: Recovery from any correction and general upward trend could lift CRO along with other currencies.
Long-term (12 months +):
- Potential range: $0.25 – $1.00 (Highly speculative)
- Reasons:
- Mass adoption of crypto: Increased mainstream acceptance and real-world use cases could significantly boost CRO demand.
- Crypto.com’s long-term vision: Ambitious goals of becoming a leading Web3 hub could drive substantial token value.
- Technological advancements: Advancements in blockchain technology and scalability could enhance CRO’s utility and attractiveness.
It added: “Remember, these are just speculative predictions based on current information. The cryptocurrency market is highly volatile and influenced by numerous unpredictable factors. Always conduct your own research and understand the risks involved before making any investment decisions.”
Recent Updates from Lido DAO
In November, LDO approved the Simple DVT Module, which should, at least in theory, make the computers, or nodes, on the network, more diverse.
In early 2024, the platform said its percentage of staked Ethereum had risen to 24.28%.
LDO Price History
Now, let’s examine some of the highlights and lowlights of the Lido DAO price history. While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Lido DAO price prediction.
When Lido DAO came onto the open market in January 2021, it was worth about $1.75. The token went through peaks and troughs, but a blossoming crypto market helped it reach more than $4.70 in May. After that, market turmoil saw it fall over the summer, only to recover to an all-time high of $11 on November 16.
The following year was a rough time for crypto and a series of market crashes saw LDO tumble to an all-time low of $0.406 on 18 June 2022. While there was some recovery for the token in the months following that, it closed the year below the dollar, at around $0.95.
2023 ended up being more encouraging. The crypto’s performance was up and down throughout much of the year. However, a bullish market later on in the year saw it shoot up. It closed 2023 at $2.64, a year-on-year rise of more than 175%.
By January 10, 2024, it was worth about $3.85. At that time, there were 890 million LDO in circulation out of a total supply of one billion. This gave the crypto a market cap of around $3.39 billion, making it the 30th-largest crypto by that metric.
Is Lido DAO a Good Investment?
It is hard to say at this moment in time. LDO has responded well to a buoyant market, but it could fall down at any time.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in LDO.
Will Lido DAO go up or down?
No one can really tell right now. While the Lido DAO crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Lido DAO?
Before you decide whether or not to invest in Lido DAO, you will have to do your own research, not only on LDO, but on other coins and tokens such as The Graph (GRT). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Who are the Founders of Lido DAO?
Lido DAO, which was set up in 2020, does not have any fully identified founders. While this is not uncommon in the world of crypto, it might be something that could put some potential investors, who might require full transparency, off.
Who Owns the Most Lido DAO (LDO) Tokens?
On January 10 2024, one wallet associated with Lido DAO held nearly 11% of the supply of LDO.
Richest LDO Wallet Addresses
As of January 10 2024, the five wallets with the most LDO were:
- 0x3e40d73eb977dc6a537af587d48316fee66e9c8c. This wallet, listed as Lido: Agent, held 109,630,025 LDO, or 10.96% of the supply.
- 0x820fb25352bb0c5e03e07afc1d86252ffd2f0a18. This wallet held 70 million LDO, or 7% of the supply.
- 0x695c388153bea0fbe3e1c049c149bad3bc917740. This wallet, listed as Lido: LDO Vesting Recipient 4, held 50 million LDO, or 5% of the supply.
- 0x945755de7eac99008c8c57bda96772d50872168b. This wallet, listed as Lido: LDO Vesting Recipient 2, also held 50 million LDO, or 5% of the supply.
- 0xad4f7415407b83a081a0bee22d05a8fdc18b42da. This wallet held 49 million LDO, or 4.9% of the supply.
Fact Box
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 1,000,000,000 |
| Circulating supply (as of January 10, 2024) | 890,178,360 |
| Holder distribution | Top 10 holders owned 50.08% of maximum supply as of January 10, 2024 |
From the Whitepaper
In its technical documentation, or whitepaper , Lido DAO says it wants to make staking easier.
It says: “Lido liquid staking protocol is an Ethereum 2.0 liquid staking protocol solving these drawbacks. Users can deposit their ether in Lido smart contracts and receive stETH — a tokenized version of staked ether — in return. The DAO-controlled smart contracts then stake tokens with DAO-picked node operators. Users’ deposited funds are controlled by the DAO, node operators never have direct access to the users’ assets.”
Lido DAO (LDO) Explained
Lido DAO is a platform designed to let people stake crypto without having to meet minimum staking requirements. It is based on the Ethereum (ETH) blockchain and is powered by the LDO token.
By staking ETH in Lido DAO, people are given a token called stETH as compensation. The value of stETH is equivalent to the amount of ETH they have deposited. It can be transferred, traded, or utilized in decentralized finance (DeFi) applications.
Initially designed to cater to ETH stakers, the system has evolved to enable participation from people staking SOL, KSM, and MATIC. Users staking these particular cryptos receive stSOL, stKSM, and stMATIC tokens, respectively. These tokens function in a similar manner to stETH, offering comparable benefits.
How Lido DAO Works
Lido DAO lets people stake less than the minimum 32 ETH required by Ethereum. This allows them to get involved and, potentially, turn a profit with less crypto.
LDO gives holders votes on changes to the network. People can also buy, sell, and trade it on exchanges.
Lido DAO Attention Tracker
Here is a chart for the Lido DAO Google search volume for the past 90 days. This represents how many times the term “Lido DAO” has been Googled over the previous 90 days.
FAQs
It might do. Bitnation says it can get there next year. DigitalCoinPrice says it can reach double figures by 2026, and CaptainAltCoin thinks it can get there by 2030. LDO holders can vote on changes to the Lido DAO platform. People can also buy, sell, and trade it on exchanges.Will Lido DAO reach $10?
What is Lido DAO used for?
Further reading
SushiSwap Price Prediction 2024: What is SUSHI?
Internet Computer Price Prediction 2024: What is ICP?
Avalanche Price Prediction 2024: What is AVAX?
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
