Binance early announced the news of the Lido DAO (LDO) listing, which includes trading pairs BTC, BUSD, and USDT. Deposits for LDO will open today, while withdrawals will open on May 10.
Lido Finance is a staking solution provider that provides services for Ethereum 2.0, Terra, Solana and Kusama. Users staking with Lido can maintain control and liquidity of their staked tokens. LDO is the management token of the Lido DAO.
The listing on Binance caused a huge price increase in the first place in LDO, which is currently collected on exchanges like Gate.io. The second largest protocol in the DeFi industry with $15 billion locked in, is expected to attract even more investors as Binance listing ends.
Altcoin rose 50 percent from $ 2.5 in the first hours of the day to $ 3.75. In the afternoon trading, however, it saw faster sales and fell 43 percent from its peak price to $ 2.2.
Lido DAO changed hands at $2.17 at the time of writing, while LDO's last 24-hour trading volume was $75,872,521. LDO price has decreased -12.4% in the last 24 hours.
Winner of the Day Star of the Rise Ethereum (ETH) Rival This Altcoin!
Both the economic reasons that developed after Russia started a war against Ukraine and the effects of inflation continue to affect cryptos as well as traditional markets. In this process, the FED announced the new interest rates last week and continued to follow a movement that continued its monetary tightening policy. This both affects the pockets of investors and creates a dominance of fear in the crypto market. Despite everything, the Near Protocol (NEAR) continues to rise.
NEAR is trading at around $11.1, up over 3% in the last 24 hours. Also, on a weekly basis, NEAR outperforms other cryptos while maintaining almost the same price level. NEAR most recently attempted below this key resistance level, breaking below $10 on May 7. However, NEAR manages to recover and does not allow these declines.
Looking at history, while all cryptos are falling, the rise of NEAR is not actually a first. NEAR demonstrated this performance in both February, March and April, with cryptos showing a serious downward trend and rising. However, it cannot be said that NEAR has fully earned, given that $ 19, which was the highest level reached in April, is almost 40% down.
Besides, the data shows that the total locked NEAR value has risen to an all-time high of $605.89 as of this morning. On the other hand, the market cap of Near Protocol has increased by 3% since May 7 to reach 7.52 billion. When all this is combined, it is thought that NEAR may see more price support. In addition, in order for NEAR to see a serious price increase, it must first exceed $12.15 and then consolidate above $12.5.