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Lido DAO (LDO) has recorded a notable price surge this week, outperforming major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Here is how some of your favorite assets concluded the week.

The global crypto market is experiencing significant fluctuations. With Bitcoin prices hovering around $64,000, investors and enthusiasts are constantly on the lookout for promising altcoins that offer unique functionalities and strong market potential.

Lido has been popular, but is that good news for LDO too?

The week under review has seen a decline in trading activity in the cryptocurrency market. Within that period, global cryptocurrency market capitalization has dropped by 4%.

As of June 21, 2024, Lido has experienced a surge of 20.57% in the past seven days. However, the likelihood of continued upward movement seems limited.

No sooner than bears accelerated their pressure over the markets, the BTC price slumped below $65,000 with fewer chances of a recovery. Besides, Ethereum, which has been surrounded with optimism after the recent SEC update, remains self-assured of marking fresh monthly highs.

Ethereum is the home of decentralized finance (DeFi), looking at the over $100 billion in total value locked (TVL). Even though the figure fluctuates, mainly depending on the performance of ETH, it is clear that DeFi has proven revolutionary, opening up new use cases spanning multiple sectors, including finance and insurance.

Lido DAO (LDO), a prominent Decentralized Autonomous Organization in the cryptocurrency market, has recently experienced a significant surge in its price, marking a notable 27% increase amidst growing investor confidence and heightened trading activity.

The Lido DAO is a Decentralized Autonomous Organization that decides on the key parameters of liquid staking protocols through the voting power of governance token (LDO) tokens. It allows users to earn staking rewards without locking assets.

The social dominance of LDO, the token that powers Ethereum's (ETH) largest liquid staking protocol, Lido Finance, has spiked to an all-time high.

Lido DAO price forecast: LDO, a Decentralized Autonomous Organization, has seen a notable price surge in the past 24 hours after a bullish trend. The Altcoin hovered at $2.36, with a robust increase of 15% during the US session on Wednesday.

LDO and ENS are among the top performers on a daily scale.

After displaying a bearish price action for the first two days of the week, the cryptocurrency market has recorded a strong bullish reversal in its chart following the conclusion of the ongoing Ethereum case against the Securities and Exchange Commission (SEC). Following this, top Ethereum-based tokens have recorded a similar trend in their respective portfolios.

The crypto market sentiments have flipped slightly bullish with the SEC withdrawing their investigation into Ethereum 2.0. With this, the ETH price reached levels above $3,500, while the Ethereum-based tokens ENS & LDO have also been displaying acute strength, aiming for a massive upswing.

The crypto prices today have shown signs of recovery after yesterday's remarkable bearish momentum. Bitcoin (BTC) regained its position at the $65K price level after bottoming to the $64K level in the past 24 hours.

TL;DR Bitcoin Outflows: Bitcoin sees $621M outflows, the largest since March 22, 2024, influenced by the FOMC's stringent stance and increased investments into short-bitcoin positions.

Interaction on the protocol is improving, suggesting that the token may trade at a higher price in the mid-term.

After the recent pullback, the crypto markets appear to have ignited a strong recovery phase, as most of the tokens have triggered a decent rebound. While the token Toncoin (TON) marked a fresh high of around $8.24, other altcoins like Lido DAO (LDO) initiated a strong rebound.

Cryptocurrency analyst and trader Ali Martinez is expressing bullish sentiment on one smart contract-enabled blockchain while updating his outlook on Bitcoin (BTC) and Lido DAO (LDO).

MetaMask has joined the class of other Ethereum staking platforms that allow retail staking. Will this impact the volume of staked ETH?

Lido Finance, the liquid staking protocol for the Ethereum (ETH) network, has experienced significant price declines over the past two weeks, largely influenced by the market's downtrend and the lack of bullish momentum. However, a notable breakout could be in the making for the protocol's native token, LDO, despite negative financial metrics.

Lido has announced a strategic partnership with Mellow Finance and and Symbiotic, aiming to enhance the utility and liquidity of staked ETH (stETH) through advanced DeFi vaults. This announcement has caused Lido DAO (LDO) and Lido Staked ETH (stETH) prices to jump significantly.

The launch comes after restaking platform EigenLayer started to threaten Lido's dominance in Ethereum DeFi.