{"id":366704,"date":"2022-12-28T07:43:09","date_gmt":"2022-12-28T12:43:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=366704"},"modified":"2022-12-28T07:43:09","modified_gmt":"2022-12-28T12:43:09","slug":"ldo-price-prediction-whats-in-store-for-ldo-in-2023","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ldo-price-prediction-whats-in-store-for-ldo-in-2023","title":{"rendered":"LDO Price Prediction: What’s in Store For LDO in 2023?"},"content":{"rendered":"

Lido has made headlines in the past few weeks, as it holds steady the network in the ecosystem.<\/p>\n

It recently saw a 7.6% price rise to $1.03. This comes amidst the token’s positive trend over the past week, where it experienced a 5% gain, moving from the $0.99 level to its current price. This has led to many investors thinking of the crypto hitting its all-time high of $7.30.<\/p>\n

This seems like a positive outlook for the crypto markets, as Bitcoin still suffers from the volatility created in the crypto markets due to the FTX collapse, extending the crypto winter.<\/p>\n

Here’s a price prediction analysis for LDO in the near future and a few important things that investors should know about this crypto.<\/p>\n

Lido DAO History<\/b><\/h2>\n

Lido DAO’s native token LDO started trading on 5th January 2021. In the initial days, it struggled to get past this initial launch price.<\/p>\n

It saw its first significant rally in late April 2021, as the users of the platform voted for the community to be launched on the protocol on Solana. This proposal, after the vote, was passed and the price rallied to the $5.61 level in May 2021.<\/p>\n

The price of LDO saw a breakout as the protocol decided to announce plans to further its decentralization plans, which included upgrading to a non-custodial approach. It finally reached its all-time high of $18.62 in November 2021, as the platform saw a surge in the total value locked on the protocol.<\/p>\n

The crypto plummeted below its launch price in the beginning of 2022, however, it recovered this fall in March 2022. In March itself, Lido integrated with Polygon which led to another surge in its total value locked (TVL), leading to LDO reaching $4.90.<\/p>\n

Lido DAO<\/b> Tokenomics<\/b><\/h2>\n

At the time of writing, Lido DAO is currency trading at the $1 level. The crypto has a total market cap of $325 million at the time of writing, with a 24h low of $1.02 and a high of $1.10, and a 24h trading volume of $30 million.<\/p>\n

When it comes to the tokenomics of Lido, it has two separate tokens: liquid stETH token, which happens to be a staked version of the staked Ethereum, and LDO, which is used by investors to gain voting rights in the Lido DAO.<\/p>\n

It was created in December 2020 and has a maximum supply of 1 billion tokens, of which the circulating supply, according to CoinMarketCap is around 312 million.<\/p>\n

Lido DAO Price Prediction<\/b><\/h2>\n

When it comes to Lido’s performance in the coming years, it seems like a mix next year for the crypto.<\/p>\n

While referring to one of the four-hour charts, it can be seen that Lido has made some exciting recovery in the last few days. As the price of the crypto rose, it was able to break resistance from its $0.992 level.<\/p>\n

For the year 2023, there are many factors that can play a vital role in Lido’s price levels. Many external factors such as high levels of inflation, and an unsafe overall macro situation might have an impact on LDO’s price.<\/p>\n

According to recent price predictions, it is predicted that the LDO token might be able to recover slightly. In case it is able to manage the current price trajectory it is on, the crypto might be able to reach a maximum price of $2.92, while the average price for the year might stay around $2.61. In the case of a bear market, the price can be expected to reach $2.30.<\/p>\n

In the long-term prediction, LDO is expected to see impressive growth as a result of crypto gains recognition across many sectors. This can mean that the price can reach as high as $3.97, averaging around $3.65, and a minimum of $3.34.<\/p>\n

What is LDO & its Pros and Cons<\/b><\/h2>\n

LDO is the native governance token of the Lido DAO which facilitates the platform’s goal of building a trustless staking service for Ethereum. It also enables users to earn staking rewards without locking the assets or maintaining a staking infrastructure.<\/p>\n

It drives the decentralized ownership and decision-making of the independent structure of Lido, with the governance decisions in the Lido DAO community conducted, based on LDO.<\/p>\n

Starting from December 2020, LDO tokens were locked completely for one year. Between December 2020 and December 2021, these tokens were enabled to be used for governance, but couldn’t be transferred. They were unlocked and released for movement on a per-block basis from December 2021 onward.<\/p>\n

Pros of LDO<\/b><\/p>\n