Lido Finance readies for a token unlock, and LDO's path forward looks promising, with a 50% volume surge and an RSI bounce.
data, the press time circulating supply of LDO stood at over 888 million tokens. The unlocked tokens would bump the circulating supply to over 889 million.
The data also indicated that the total supply of LDO was 1 billion. At the time of writing, the market capitalization of LDO exceeded $1.3 billion.experienced a notable surge in trading volume over the past 24 hours, with an increase of more than 50% at press time. The volume chart on Santiment revealed that this uptick caused a minor spike.
The chart also illustrated that the volume had been on a declining trend until this recent surge. As of this writing, the trading volume stood at over $41 million.Considering the press time state of the trading volume and the historical trends observed, the forthcoming unlock of LDO tokens is unlikely to significantly impact LDO’s price trajectory.
Given that the total value of the LDO tokens to be unlocked is $1.5 million, equivalent to $2.24 million, the market conditions could absorb this amount without causing substantial disruption.Analyzing LDO’s price trend over the daily timeframe, it’s evident that it recently experienced a downtrend, consistent with the broader market trends.
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