Convergence

Lido DAO

Renzo

Divergence

Lido DAO price, a decentralized autonomous organization, announced on August 2nd the launch of Lido Institutional. This new offering is a specialized liquid staking solution that caters to custodians, asset managers, and exchanges’ unique needs, among other institutional stakeholders. 
This development highlights Lido’s commitment to delivering top-notch staking solutions that meet the rigorous demands of institutional clients, including asset managers and custodians. Lido Institutional aims to enhance these entities’ capabilities in managing their staking activities effectively. 
<h2 id="strong-lido-dao-price-outlook-after-institutional-launch-strong">Lido DAO Price Outlook After Institutional Launch</h2> 
Lido DAO remains the top player in Ethereum’s <a href="https://coingape.com/best-defi-tokens/">decentralized finance</a> (DeFi) staking sector. Despite the rise of new protocols like Ether. fi and Renzo following Ethereum’s shift to proof-of-stake, Lido retains its position at the forefront. The platform, known for its liquid staking token, Lido Staked <a href="https://coingape.com/markets/can-ethereum-classic-price-survive-800k-liquidations/">Ether</a>, is now focusing on expanding its influence by targeting institutional investors. 
<blockquote class="twitter-tweet"> 
 Trusted by a growing list of prominent institutional partners, Lido already stands out as a premier choice for many institutions looking to engage in Ethereum staking. 
 Its middleware solution combines the reliability and security necessary for enterprise-grade staking with the… 
 — Lido (@LidoFinance) <a rel="nofollow" href="https://twitter.com/LidoFinance/status/1819363356819554643?ref_src=twsrc%5Etfw">August 2, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The newly launched Lido Institutional aims to attract these investors by offering robust security features, significant liquidity, and attractive staking rewards. This initiative provides a unique opportunity for participants to benefit from staking rewards managed by a diverse group of over 100 node operators, enhancing counterparty exposure. 
<h2 id="strong-lido-dao-experiences-price-volatility-amidst-bearish-market-conditions-strong">Lido DAO Experiences Price Volatility Amidst Bearish Market Conditions</h2> 
Over the past 24 hours, the Lido DAO price has experienced fluctuations within a trading range of $1.43 to $1.59. As of the reporting time, the<a href="https://coingape.com/price/lido-dao/"> LDO price</a> hovered at $1.45 during the U.S. trading hours, showing a slight decrease of 0.97% from the previous day.&nbsp; 
If market conditions turn bearish, the Lido DAO price could drop to $1.3, strengthening the bearish trend. A continued downtrend could lower its price to $1.2. 
The<a href="https://coingape.com/best-indicators-for-crypto-trading/"> technical indicators </a>for Lido DAO against Tether (USDT) on the 4-hour chart suggest a bearish trend. The Moving Average Convergence Divergence (MACD) is below the signal line, with a -0.024 reading indicating a bearish crossover. The histogram shows increasing red bars, which further supports the bearish sentiment. 
The<a href="https://coingape.com/glossary/rsi-relative-strength-index"> Relative Strength Index</a> (RSI) is currently at 35, indicating that the asset is nearing oversold conditions. The RSI has been trending below the neutral 50 level, reflecting the ongoing selling pressure. 
<figure id="attachment_210813" aria-describedby="caption-attachment-210813" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-210813" src="https://coingape.com/wp-content/uploads/2024/08/LDOUSDT_2024-08-02_21-03-09.png" alt="Can Lido DAO Price Hit $2 After Launching Institutional-Grade Liquid Staking?" width="1154" height="687" srcset="https://coingape.com/wp-content/uploads/2024/08/LDOUSDT_2024-08-02_21-03-09.png 1154w, https://coingape.com/wp-content/uploads/2024/08/LDOUSDT_2024-08-02_21-03-09-300x179.png 300w, https://coingape.com/wp-content/uploads/2024/08/LDOUSDT_2024-08-02_21-03-09-768x457.png 768w, https://coingape.com/wp-content/uploads/2024/08/LDOUSDT_2024-08-02_21-03-09-150x89.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-210813" class="wp-caption-text">
 Lido DAO Price chart: Source| <a rel="nofollow" href="https://www.tradingview.com/x/QMJ35xBR/">TradingView</a>
 </figcaption>
</figure> 
Conversely, the Lido DAO price could experience a bullish reversal if investor optimism increases. A positive shift in market sentiment could push the price beyond the $1.5 resistance level. Following this upward trend, the cryptocurrency could climb to $1.8 and possibly extend to $2 in forthcoming market developments. 
The post <a href="https://coingape.com/markets/can-lido-dao-price-hit-after-launching-institutional-grade-liquid-staking/">Can Lido DAO Price Hit $2 After Launching Institutional-Grade Liquid Staking?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Can Lido DAO Price Hit $2 After Launching Institutional-Grade Liquid Staking?

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