Home / Price Predictions / Lido DAO Price Prediction 2024: LDO Price Analysis

Lido DAO Price Prediction 2024: LDO Price Analysis

Last Updated
Nikola Lazic
Last Updated
By Nikola Lazic
Edited by Peter Henn

Key Takeaways

  • Lido DAO’s LDO token has shot up after the SEC said Ethereum was not a security. 
  • LDO supports a staking network.
  • Can it build on recent success, which saw it become the biggest crypto application by TVL?
  • Our LDO price prediction says LDO could reach $8 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. However, it made a downturn, but a recent growth in Total Value Locked (TVL), coupled with excitement about Ethereum exchange-traded funds (ETFs), helped it rise in the middle of May. 

Although it dropped in June, it made an upturn once the United States Securities and Exchange Commission (SEC) announced that it did not think ETH was a security.

Lido DAO did not respond to a request for comment.

On June 19 2024, LDO was worth about $2.35.

Let’s take a look at our Lido DAO price prediction. We’ll also examine some of LDO’s price history, and talk about what Lido DAO is and what it does.

Lido DAO Price Prediction

Minimum LDO Price Prediction Average LDO Price Prediction Maximum LDO Price Prediction
2024 $3 $3.60 $4
2025 $7 $7.50 $8
2030 $6 $8 $10

 

Lido DAO Price Prediction 2024

If the price of LDO confirms its starting bull phase, it should continue on an upward trajectory for the rest of 2024, leading to its January high or even slightly exceeding it. 

Lido DAO Price Prediction 2025 

Should the bull market continue in 2025, LDO would form its higher degree wave three and surpass its all-time high from 2024 by a significant margin. 

Lido DAO Price Prediction 2030

The bull market is expected to be completed by late 2025 and start a bear cycle that can last multiple years. In that case LDO could see its value crashing 80%, meaning that by 2030 it will be in its new bull cycle. 

Lido DAO Price Analysis

After hitting a yearly high on January 10, LDO’s price began a downward trajectory. By May 15, it had fallen back to $1.50, erasing all gains from the previous rally and marking a full 100% retracement to the level where the last uptrend began in September last year. 

Lido DAO Price Analysis
LDO has fallen since January, but could recover | Credit: Nikola Lazic/TradingView

Subsequently, LDO broke below its ascending support line but experienced a significant price surge, climbing 78% to reach $2.70 by May 26, driven by strong parabolic momentum. This peak corresponded with its descending trendline, which started at the January high, signaling a critical juncture.

On its next downturn to June 11, LDO hit its first higher low of $1.77 since January, indicating that it could be starting a new uptrend. The rise since then brought the price back to its descending resistance when it rose by nearly 32% to a high of $2.34 on June 19. 

If the descending trendline is broken to the upside, we will receive a confirmation of the starting bull phase. In that case, we expect LDO to reach a higher high than May 26, hit values above $3, and revisit its January high of $4 later in 2024. 

Lido DAO Price Performance Comparisons

Current Price One Year Ago Price Change
LDO $2.30  $1.77 +29.94%
AAVE $87 $52 +67.31%
BGB $1.16 $0.47 +146.81%
OP $1.90 $1.12 +69.64%.

How Do We Make a Lido  Price Prediction?

Our price prediction for Lido combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases. Applied to the LDO-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between. 

Advantages and Disadvantages of Lido DAO

Blockchain analysis firm Messari recently released their latest quarterly report  on Lido DAO. In it, the company set out some advantages and disadvantages of the platform.

Messari reported that between January and March 2024, Lido DAO had:

  • An average market cap of $2.64 billion, up from $2.12 billion year-on-year and up from $2.35 billion quarter-on-quarter.
  • Total value locked (TVL) of $35.3 billion, up year-on-year from $11.2 billion and up quarter-on-quarter from $21 billion.
  • Net deposits of 3.15 million ETH, up year-on-year from 2.16 million and up quarter-on-quarter from 1.76 million ETH.
  • Net protocol revenue of $28.7 million, up year-on-year from $13.4 million and up from $20.9 million quarter-on-quarter.

Advantages of Lido DAO

Messari said that Lido DAO

  • Was the largest crypto application by TVL.
  • Enjoyed record quarterly revenue.
  • Rarely saw net outflows.

Disadvantages of Lido DAO

Messari also said that Lido DAO

  • Could still do more to improve Execution Layer diversity.
  • Had less in its treasury than in the third quarter of 2023.
  • Had higher operating costs.

LDO Price History

Lido DAO Price History
Lido DAO’s price history for the last 12 months | Credit: CoinMarketCap
Period Lido DAO Price
Last week (June 12 2024) $2.04
Last Month (May 19 2024) $1.78
Three month ago (March 19 2024) $2.54
One year ago (June 19 2023) $1.78
Launch price (January 5 2021) $1.84
All-time high (November 16 2021) $11
All-time low (June 18 2022) $0.406

Who Owns the Most Lido DAO (LDO) Tokens?

On June 19 2024, one wallet held more than 10% of the supply of LDO.

Richest LDO Wallet Addresses

As of June 19 2024, the five wallets with the most LDO were:

  • 0x3e40d73eb977dc6a537af587d48316fee66e9c8c. This wallet held 106,949,218 LDO, or 10.69% of the supply. 
  • 0x820fb25352bb0c5e03e07afc1d86252ffd2f0a18. This wallet held 70 million LDO, or 7% of the supply. 
  • 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet, listed as Binance, held 55,684,719 LDO, or 5.57% of the supply.
  • 0x945755de7eac99008c8c57bda96772d50872168b. This wallet held 50 million LDO, or 5% of the supply.
  • 0x695c388153bea0fbe3e1c049c149bad3bc917740. This wallet also held 50 million LDO, or 5% of the supply. 

Fact Box

Supply and distribution Figures
Total supply 1,000,000,000
Circulating supply (as of June 19, 2024) 893,006,579 (89.3% of total supply)
Holder distribution Top 10 holders owned 53.35% of total supply as of June 19, 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.  

Is Lido DAO a Good Investment?

It is hard to say at this moment in time. LDO has made an upturn recently, but it has underperformed for most of 2024 so far. 

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.

Lido DAO Attention Tracker

Lido DAO Google Search Volume
Lido DAO Google search volume | Credit: Google

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 

How many Lido DAO are there?

On June 19 2024, there were 893 million LDO in circulation out of a total supply of one billion.

Will Lido DAO reach $10?

It might do, but not until 2030 at the earliest.

What is Lido DAO used for?

LDO holders can vote on changes to the Lido DAO platform. People can also buy, sell, and trade it on exchanges.

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.