{"id":646553,"date":"2024-10-06T15:30:07","date_gmt":"2024-10-06T15:30:07","guid":{"rendered":"https:\/\/uniquehot.com\/?p=646553"},"modified":"2024-10-06T12:27:18","modified_gmt":"2024-10-06T12:27:18","slug":"lido-ldo-faces-massive-correction-as-token-losses-mount-to-20","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/lido-ldo-faces-massive-correction-as-token-losses-mount-to-20\/","title":{"rendered":"Lido (LDO) Faces Massive Correction As Token Losses Mount To 20%"},"content":{"rendered":"

The Lido (LDO) short-term position continues to be compromised in the face of a market-wide correction phase, dragging the altcoin market to the mud. As of writing, the token has <\/span>lost<\/span><\/a> over 20% in value, representing a massive flip in investor sentiment. The market has not been faring any better as it lost <\/span>nearly<\/span><\/a> 2% in value, wiping nearly $800 million in market cap in the past 24 hours.\u00a0<\/span><\/p>\n

Related Reading: Market Signals Hint At Bitcoin\u2019s Potential Fall To $52,000\u2014Analyst<\/a><\/div>\n

Lido\u2019s development persists despite the market\u2019s apparent bearishness, the most recent of which might drive retail interest on the platform sky-high. However, with the market acting as a chaotic background for LDO, it might come later than what investors and traders expect.\u00a0<\/span><\/p>\n

Lido DAO Announces Community Staking Early Adoption Program<\/strong><\/h2>\n

Yesterday, October 5, Lido\u2019s official X account <\/span>announced<\/span><\/a> the Community Staking Module (CSM) Early Adoption program designed specifically for solo stakers who want to taste the CSM environment before its initial launch. <\/span><\/p>\n

\n

Introducing the Community Staking Module Early Adoption Program: A Unique Opportunity for Solo Stakers \ud83c\udf10<\/p>\n

Eligible operators can benefit from:
\n1\ufe0f\u20e3 Early access to the CSM mainnet, avoiding competition from large staking entities for ETH allocations.
\n2\ufe0f\u20e3 A reduced requirement of\u2026 pic.twitter.com\/x6N8oINq9l<\/a><\/p>\n

\u2014 Lido (@LidoFinance) October 4, 2024<\/a><\/p><\/blockquote>\n

\"\"<\/p>\n

According to the X post, stakers eligible for the program can enjoy early access to the CSM mainnet, a reduced capital requirement from 32 ETH to just 1.5 ETH, and a potential 2.37x higher reward per ETH.\u00a0<\/span><\/p>\n

In addition to these benefits, eligible operators are also allowed to run 12 validators. According to Lido\u2019s <\/span>blog post<\/span><\/a>, the limit will only be lifted after the early adoption phase.\u00a0<\/span><\/p>\n

To ensure that only solo stakers will have the opportunity to enter the program, Lido has put out specific filtration rules that will check each applicant if they are eligible for the program.\u00a0<\/span><\/p>\n

LDO is currently trading at $1.06. Chart: TradingView<\/a><\/figcaption><\/figure>\n

This development will ultimately stimulate retail interest in the platform as it lowers the economic barrier to participating in the network. However, its strict rules regarding the eligibility of community members and network users to be part of the CSM Early Adoption Program hinder any potential gain in the long-term of the network as only a handful of users can participate in the reduced financial burden brought by the program.<\/span><\/p>\n

$0.88-$1.13 Range Holds Little Promise For LDO<\/strong><\/h2>\n

As of writing, the token is struggling to hold the weight of the bearish pressure that has overtaken the market by storm. LDO bulls do not have the same momentum as the bears which may lead to a short to medium-term continuation of the downward trajectory.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

The token\u2019s relative strength index, however, is hinting a possible reversal in the medium term timeframe which might lead to LDO keeping its current trading range in the next couple of days.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Burn Rate Shoots Up 1,000% \u2013 Are New ATH Levels Just Around The Corner?<\/a><\/div>\n

Investors and traders should monitor the broader market\u2019s movement in the coming days as LDO\u2019s correlation with the major cryptocurrencies will play a huge part in its future price movement.<\/span><\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Lido (LDO) short-term position continues to be compromised in the face of a market-wide correction phase, dragging the altcoin market to the mud. As of writing, the token has lost over 20% in value, representing a massive flip in investor sentiment. The market has not been faring any better as it lost nearly 2% in value, wiping nearly $800 million in market cap in the past 24 hours.\u00a0 Related Reading: Market Signals Hint At Bitcoin\u2019s Potential Fall To $52,000\u2014Analyst Lido\u2019s development persists despite the market\u2019s apparent bearishness, the most recent of which might drive retail interest on the platform sky-high. However, with the market acting as a chaotic background for LDO, it might come later than what investors and traders expect.\u00a0 Lido DAO Announces Community Staking Early Adoption Program Yesterday, October 5, Lido\u2019s official X account announced the Community Staking Module (CSM) Early Adoption program designed specifically for solo stakers who want to taste the CSM environment before its initial launch. Introducing the Community Staking Module Early Adoption Program: A Unique Opportunity for Solo Stakers \ud83c\udf10 Eligible operators can benefit from: 1\ufe0f\u20e3 Early access to the CSM mainnet, avoiding competition from large staking entities for ETH allocations. 2\ufe0f\u20e3 A reduced requirement of\u2026 pic.twitter.com\/x6N8oINq9l \u2014 Lido (@LidoFinance) October 4, 2024 According to the X post, stakers eligible for the program can enjoy early access to the CSM mainnet, a reduced capital requirement from 32 ETH to just 1.5 ETH, and a potential 2.37x higher reward per ETH.\u00a0 In addition to these benefits, eligible operators are also allowed to run 12 validators. According to Lido\u2019s blog post, the limit will only be lifted after the early adoption phase.\u00a0 To ensure that only solo stakers will have the opportunity to enter the program, Lido has put out specific filtration rules that will check each applicant if they are eligible for the program.\u00a0 This development will ultimately stimulate retail interest in the platform as it lowers the economic barrier to participating in the network. However, its strict rules regarding the eligibility of community members and network users to be part of the CSM Early Adoption Program hinder any potential gain in the long-term of the network as only a handful of users can participate in the reduced financial burden brought by the program. $0.88-$1.13 Range Holds Little Promise For LDO As of writing, the token is struggling to hold the weight of the bearish pressure that has overtaken the market by storm. LDO bulls do not have the same momentum as the bears which may lead to a short to medium-term continuation of the downward trajectory.\u00a0 The token\u2019s relative strength index, however, is hinting a possible reversal in the medium term timeframe which might lead to LDO keeping its current trading range in the next couple of days.\u00a0 Related Reading: Shiba Inu Burn Rate Shoots Up 1,000% \u2013 Are New ATH Levels Just Around The Corner? Investors and traders should monitor the broader market\u2019s movement in the coming days as LDO\u2019s correlation with the major cryptocurrencies will play a huge part in its future price movement. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":646565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,86030,86029,83767],"class_list":["post-646553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-ldo","tag-lido","tag-meme-coins"],"acf":[],"yoast_head":"\nLido (LDO) Faces Massive Correction As Token Losses Mount To 20%<\/title>\n<meta name=\"description\" content=\"The Lido (LDO) short-term position continues to be compromised in the face of a market-wide correction phase, dragging the altcoin market to the mud. 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Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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