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LDO, the ticker for the Lido DAO utility and governance token, has been trading with an upside bias in recent days, lifted by the broader cryptocurrency market rally that has seen the likes of Bitcoin and Ethereum rocket to multi-week highs above the $20,000 and $1,500 levels respectively over the weekend. LDO/USD was last changing hands close to $2.20 per token, up close to 2.0% on the day, according to Trading View citing Binance exchange data.
That’s below earlier session highs near $2.50 and last week’s highs just above $2.60, but leaves the crypto token still up around 130% on the month. Traders have attributed optimism about the upcoming Ethereum upgrade, called “Shanghai”, as boosting LDO. That’s because the upcoming upgrade will, for the first time since ETH owners started staking their crypto back in 2020, allow staked ETH withdrawals.
Lido is a staked ETH liquidity provider. Thus, the logic goes that Lido is set to benefit from more flexible ETH staking, as this flexibility will attract more ETH owners to staking and related protocols (like Lido).
Price Prediction – Where Next for LDO?
The fact that LDO, which is trading well above all of its major moving averages, was able to find strong support recently at the early November highs in the $1.85 area, is a good sign for the crypto token’s near-term outlook. Indeed, the cryptocurrency appears to be in the process of forming an ascending triangle. This is a technical pattern that often forms ahead of a bullish breakout.
An upside break of this ascending triangle would likely trigger a jump to the August highs just to the north of the $3.0 per token level.
Altcoins to Consider
Cryptocurrency markets have been performing well since the start of 2023, but the longer-term bear market remains very much still in play. Investors might still want to consider diversifying their holdings with the discounted presale tokens of some promising, up-and-coming crypto projects. Here is a list of a few that analysts at InsideBitcoins think have the potential to perform well.
FightOut (FGHT) – Presale on Now
The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. FightOut, which touts itself as the future of move-to-earn, wants to change that in 2023. FightOut is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges and competing within a first-of-its-kind fitness metaverse.
While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part. FightOut seeks to combine the physical and web3 worlds.
The project aims to eventually acquire gyms across all of the world’s major cities, whilst simultaneously promoting an integrated web3 fitness experience. At the center of FightOut’s digital ecosystem will be its smartphone application which, according to FightOut’s whitepaper, is scheduled for launch in Q2 2023.
The FightOut app will harness smartphone and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can mint their own soul-bound token avatar, through which the user will be able to interact with the FightOut metaverse.
FGHT is the token that powers the FightOut metaverse ecosystem. Users will pay to enter competitions and leagues with FGHT, and winning will be paid out in FGHT.
FGHT can also be used in peer-to-peer fitness wagers. FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised close to $2.9 million in just a few weeks. FGHT is the token that will power the FightOut crypto ecosystem.
Calvaria (RIA) – Pre-sale Nearly Over
RIA, the token that will power afterlife fantasy-themed NFT battle card game Calvaria, is also currently in presale. The play-to-earn (P2E) crypto gaming start-up has raised close to $3.0 million in just a few months since the launch of its pre-sale. Only around 12% of its tokens remain up for grabs.
Calvaria seeks to bring crypto gaming into the mainstream by tapping into a huge, existing market – the market for physical battle card games (think viral sensations of the past like Pokemon and Yu-Gi-Oh). And with the crypto gaming space expected to grow from $4.6 billion in size in 2022 to $65.7 billion in size by 2027, according to an analysis by Markets and Markets, there is plenty of room for massive growth. Calvaria is set to launch its headline fantasy-themed card game “Duels of Eternity” in Q2 2023.
C+Charge (CCHG) – Presale Now On
The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.
C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.
C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale, this will have risen by 80%. Investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast, with the project having already raised nearly $300,000 in just a few weeks since the presale launch.
Investors should note that the remaining tokens could be scooped up quickly. A crypto whale recently scooped up over $99 worth of CCHG in one transaction, as can be verified here on BscScan.
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