Lido Spikes 20% Following Kraken’s Staking Relaunch In Select US States – Details
Summary
Lido (LDO) experienced a 20% price increase in 24 hours, rising from $1.98 to $2.37. Kraken relaunched its staking services for US clients in 37 states and two territories, with plans for further expansion. Kraken's staking allows users to delegate tokens to validators for transaction validation, earning rewards minus fees. Following Kraken's announcement, LDO's buying activity surged, pushing its market cap to $2.1 billion, ranking it as the 63rd largest cryptocurrency. Analysts predict further price increases for LDO, with potential targets of $7–$8 if it breaks key resistance levels. LDO's performance is closely linked to Ethereum's staking narrative, with optimism about an upcoming Ethereum rally.
