Lido price prediction: Here’s why the LDO token is rising

Lido price continued its recovery trend as blue-chip DeFi tokens continued surged. The LDO token rose to a high of $1.2534, which was the highest point on May 26th. It has risen by almost 200% from its lowest level this year.

DeFi blue-chips jump

Lido is a leading player in the decentralized finance (DeFi) industry. It is a platform that provides liquidity solutions for staked assets. One of the best-known staked assets that in Lido is sETH, which is pegged to Ethereum’s Beacon Chain.

According to its website, Lido has over $5.2 billion worth of staked assets in its ecosystem. Most of these assets are linked to its Ethereum platform. The other popular assets are Kusama, Polkadot, Polygon, and Solana.

Lido is the fourth biggest DeFi platform in the world with a total value locked (TVL) of more than $5.2 billion. The three biggest ones are Maker, Aave, and Curve Finance.

Lido price is rising as investors buy the dip in blue-chip DeFi tokens. Indeed, these tokens have become the best-performing in the industry. They include coins like COMP, AAVE, CRV, and UNI.

It is unclear why these coins have surged recently. A likely reason is that investors believe that the tokens will become dominant players in the financial industry. For example, while many dot com companies went bankrupt during the last dip, many others like Google and Cisco thrived.

Another reason is that investors believe that DeFi platforms will be more popular than centralized platforms. That’s because recently, many well-known brands in the industry like Celsius, Voyager, and Vauld have gone out of business.

DeFi platforms are usually more transparent since they are usually built using open source technology. Further, LDO price has risen because Staked Ether seems to be regaining its peg.