Ethereum’s biggest Merge staker just jumped 30% — will LDO rally into September? By Cointelegraph

Lido DAO: Ethereum’s biggest Merge staker just jumped 30% — will LDO rally into September?

Lido DAO (LDO) price edged higher on Aug. 3, primarily due to similar upside moves elsewhere in the crypto market and a rising euphoria around ‘s network upgrade in September.

On the daily chart, LDO’s price reached an intraday high of $2.40 a day after bottoming out locally at $1.84. The sharp upside reversal amounted to nearly 30% gains in a day, suggesting traders’ strengthening bullish bias for Lido DAO.

daily price chart. Source: TradingView
Total ETH deposited into Ethereum Merge contract via Lido DAO. Source: DeFi Llama
LDO/USD daily price chart featuring ‘bull flag’ setup. Source: TradingView
LDO/USD daily price chart. Source: TradingView