Lido Finance excels TVL and everything you need to know about LDO

  • Lido Finance TVL remained in second place despite the decline in the overall DeFi protocol
  • The price action showed that the buying and selling momentum were at odds with respect to the matter

Lido Finance [LDO] Total value locked [TVL] The Liquid Deposit Protocol contract is among the top DeFi ecosystems. This happened despite the massive decline in the broader DeFi market.

At press time, Lido DeFi TVL is valued at $5.88 billion. according to Devi LamaLido kept his second position, just behind him MakerDAO [MKR]. The protocol’s performance in the last 30 days has decreased by 33%. This means that deposits in the Lido protocol have not been impressive, despite the incentives growing with it Ethereum [ETH] mask.

Source: DeFi Llama

Read Lido finance price forecast for the year 2023-2024

Lido Finance: Development and Scale-up

Although there have been cuts, they have not been evident in lido development activities. Data from Santiment showed that development activity, which fell on November 23, resumed at a value of 11.21 at press time. This means that the team has been constantly refining and improving upgrades to its protocol.

Another height that seemed a bit important was its size. At the time of writing, the 24-hour trading volume is $18.16 million. This represents an increase of 20.83% from the previous day. So there have been a relatively large number of transactions that have gone through the Lido chain recently.

LDO size and development activity

Source: feeling

Price and what comes next

As for the price, LDO was trading at $1.10, according to CoinMarketCap. Although it was a slight increase from the last 24 hours, the four-hour chart showed that there could be a recovery.

This is because the RSI showed some attempt at buying power at 40.66. Thus, the bearish experience can turn into an uptrend, but there is no strong signal that points to the same thing.

But the Moving Average Convergence Divergence (MACD) indicated a battle for buying and selling power. At the time of publication, the MACD shows that the bearish momentum has not disappeared.

This was because the buying power (in blue) and the sellers (in red) were at about the same point. However, the MACD seems to be more declining than rising.

LDO price action

Source: TradingView

In terms of its direction, it may be difficult for LDO to break out of its bearish state. This was due to the location of the Directional Movement Index (DMI). At the time of publication, the positive (green) DMI was 15.05 and the negative (red) DMI was 27.21. Since this was not a close call, LDO could lose its grip on the $1.10 area

In addition, the position of the Average Directional Index (ADX) showed bullish strength. With the ADX ticker (in yellow) at 26:35, there was more support for the LDO to give way to the red control.

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