Lido DAO Price Prediction as LDO Rockets Up 13% in 24 Hours – LDO to the Moon?

cryptonews.com:

The Lido DAO price has risen by as much as 13% since lows yesterday, with its current price of $1.23 representing a 7.5% gain in 24 hours, and an 18% rise in a week. It's also up by 30% in two weeks, with organic growth in the use of Lido DAO largely responsible for its improving fortunes.

Data suggests that Lido DAO has now overtaken MakerDAO as the biggest DeFi platform in the cryptocurrency ecosystem (in terms of total value locked in), helped largely by its handling of Ethereum staking. And given that Ethereum developers have confirmed that stakers will be able to withdraw their staked ETH by March, this will cause further LDO price rises in the intervening weeks.

LDO's indicators reveal a strong increase in momentum since the beginning of the year. Its relative strength index (purple) jumped to nearly 90 a few days ago and remains above 70, signalling ongoing buying pressure.

In keeping with this, LDO's 30-day moving average (red) has shot above its 200-day average (blue), with the steepness of its climb suggesting that the altcoin is now enjoying a breakout.

There are numerous reason for LDO's rally today, yet thet can all be boiled down to the fact that more investors are using Lido DAO as a staking platform for Ethereum. Ever since the latter moved to a proof-of-stake consensus mechanism in September (and several months before that), Lido has been enjoying increasing usage, with its LDO governance token benefitting in parallel.

According to DefiLlama, its total value locked in has now reached $5.99 billion, putting it ahead of MakerDAO as the biggest DeFi platform in crypto (and also putting it ahead of every layer-one blockchain bar Ethereum). What's more, this value is likely to increase now that Ethereum developers