• Lido DAO’s LDO crypto price recently jumped to its highest point since January 24th, due to the developers announcing V2 upgrade for the Ethereum Shanghai upgrade.
• The V2 upgrade will bring staking router and withdrawals for users, with two modes: Turbo and Bunker.
• Analysts expect that the Ethereum Shanghai upgrade will happen in March or April, which could lead to more activity ahead of this date.
Lido DAO’s LDO Price Just Went Parabolic: 12% Gains Possible
Lido Unveils V2 Plans
Lido has grown to become one of the leading players in decentralized finance (DeFi) with a total value locked (TVL) of over $8.7 billion. Most of these assets are in Ethereum, followed by Polygon, Solana, Polkadot, and Kusama. As part of the upcoming Ethereum Shanghai upgrade, Lido plans on implementing their V2 upgrade which includes staking router and withdrawal features with two modes: Turbo and Bunker.
LDO Crypto Jumped 40% Above Lowest Level This Year
When news broke out about the upcoming V2 plans from Lido DAO, their crypto asset LDO jumped to its highest point since January 24th at a high price of $2.63 which was 40% above its lowest level this year. The goal behind the V2 upgrade is to create a more diversified validator ecosystem as well as give users an easier way to withdraw their staked ETH 1:1 ratio using either Turbo or Bunker mode withdrawals.
Ethereum Shanghai Upgrade Expected In March or April
Analysts expect that Ethereum’s Shanghai Upgrade will happen sometime in March or early April which could increase activity ahead of this date. Additionally, Lido also announced that they will be distributing rewards via Aave v3 liquidity pools to further incentivize users for staking their ETH on their platform.
LDO Price Forecast
On Tuesday February 7th 2021, LDO jumped up to a high price of $2.65 which was the highest it had been since January 24th 2021 when it touched lows at around $1.82 According to analysts predictions based off technical analysis tools such as TradingView, gains between 8-12% are possible if current bullish trend continues before any potential pull back happens later down the line making now an opportune time for investors interested in buying into this coin while prices still remain relatively low compared to other top DeFi coins like Aave and MakerDAO whose prices have surged exponentially over the past few months due to increasing demand from institutional investors entering into DeFi space especially those who want exposure into yield farming opportunities without having taking too much risk on board due to lack of knowledge surrounding DeFi projects available today on market right now
In conclusion it appears that despite already experiencing huge growth over past few months with TVL reaching over $8B mark across various blockchains and protocols such as Ethereum , PolkaDot & Kusama , there may be still further upside potential left for investors who choose get involved early enough before market starts trading sideways once again . With upcoming upgrades being implemented soon along with expected increase in activity surrounding launch of Shanghai hardfork , now may be best time buy into this coin before prices start rising again .