Lido Token Surges 20% After Kraken Reintroduces Staking Services
Lido (LDO) experienced a 20% increase in value over the past 24 hours, rising from $1.98 to $2.37.
Kraken Restarts Staking Services
- On January 30, Kraken relaunched staking services for US clients in 37 states and two territories.
- The exchange plans further expansion based on regulatory conditions.
- Staking involves delegating staked tokens to network validators who return rewards minus fees.
- Mark Greenberg from Kraken emphasized that this relaunch supports the broader US crypto industry.
- LDO's price surge followed the announcement, exceeding $2, with a market cap of $2.1 billion.
LDO Price Analysis
- Analysts see potential for LDO to reach $7–$8 following a breakout from key patterns.
- Resistance at $3 needs to be overcome for further gains.
- Investors are positioning for Ethereum staking developments, particularly regarding ETH Spot ETF filings.
- Current price for LDO is $2.37, up 19.1% in the last 24 hours.
