Cryptocurrency has become an interesting subject for most people, who are curious enough in upgrading their knowledge about everything that is correlated with the crypto world. No matter whether there are risks involved in it, still, it holds people’s interest. With so many websites available, now it is easier to keep track of the ongoing developments taking place in the crypto world. There is much to explore other than Bitcoin and blockchain technology. With so many altcoins now, today we are going to draw your attention towards Lido DAO and will let you know whether it is worth to be invested in or not.
Lido DAO (LDO): An overview
Lido staking comes as promising technology due to its flexibility. But what is Lido DAO? This is what we need to find out in this article. And with it, will also be knowing where to buy Lideo coins. The Lido DAO (decentralized autonomous organization) focuses on resolving a certain issue.
Whenever there is a matter of staking a cryptocurrency, the Ethereum blockchain plays an important role in being the main player behind it. But there are some issues left. And it is locking the funds at the time of staking them in the blockchain, and this is to be done until the launch of the new Mainnet and switching of Ethereum to PoS from PoW. There is one big issue that comes out is no clarity of date of its possibility, which would result in the locking of the coins when they could be taken out by people to explore their use for something else.
The concept behind the Lido DAO is bringing the possibility of staking tokens by the people and exploiting their use. This procedure is known as liquid staking. Another issue is when people stake ETH in multiples of 32. Lido DAO lets staking small amounts of ETH by the people that are helpful for small investors to become part of it and make a profit. They get a token stETH in return for staking ETH. This is worth the ETH amount that has been deposited. The new token can be best used in Defi apps, and can also be traded or transferred.
LDO: What is it?
Lido DAO also has a native crypto token called LDO. It helps rule the protocols of the DAO and offers people a vote on the system. Like in the case of other cryptocurrencies, LDO can also be traded, sold, and purchased on cryptocurrency exchanges. It laid its foundation two years ago, but there is no clarity about the people behind it. However, it hardly makes a serious issue like in the case of Satoshi Nakamoto, the anonymous developer founder of the global popular crypto Bitcoin. It may bother some potential investors.
Brief price history of Lido DAO (LDO)
Now let us have a brief overview of the price history of Lida DAO (LDO). Before we begin with it, one should understand future results cannot be judged based on past performances. Because no matter the past performance of a token, it can help us in interpreting the price prediction of Lido DAO. When the trading of this latter crypto began the last year in January, its worth was $1.75. Even though the price of LDO swept down to minimum levels, it recovered and rose to $3 in early February.
There have been several highs and lows in the prices. The current year (2022) also did not prove favorable for cryptocurrency. The LDO coin too had struggled. It was down at $2 by late January and closed at $1.97 in the same month. There was an improvement on 8th February with the price going up to $2.31, but the price dropped to $1.35 during Russia Ukraine attack on 24th February.
After further price movement, now the current price of LDO is $1.95. To keep track of its price prediction for upcoming years, you must stay abreast with the leading crypto websites like Cryptoknowmics. For your information, the price of LDO might reach up to $ 4.18 in 2025.
Top wallets to store LDO
Since we are discussing Lido DAO, then you might also like to know where to buy Lido coins. So below are the names of those exchanges where it is possible.
- Binance
- BKEX
- Gate.io
- SushiSwap
- Huobi
- Uniswap
- FTX
- Bibox
- Digifinex
- Poloniex
- HitBTC
Final words
So this is all you need to know about Lido DAO (LDO) crypto. As we have mentioned above there is no clarity on the founders who are behind the operation of this crypto system. While some might have issues with it, it hardly matters to others who are looking for more transparency at times of going for investment and opting for another token.
The second reason raises the question of whether LIDO would sustain its activity at the time when the new Ethereum main net is up. If it becomes possible, then there is less demand for liquidity and flexibility in staking Ether. Well, one can expect that the gap will be filled by holders of other cryptos MATIC, KSM, and SOL.
