Widely followed cryptocurrency analyst Kaleo pointed out a popular altcoin project. According to Kaleo, who is also known from his previous tweets to be a Bitcoin whale, Lido (LDO) will continue to rise against BTC and the US dollar. Therefore, the analyst shares that the altcoin is ready to explode and conveys his rally expectations. Here are the details…
Kaleo on the rise for popular altcoin LDO
Analyst Kaleo believes that Ethereum (ETH) staking service Lido (LDO) will continue to rise against Bitcoin (BTC) and the US dollar. Crypto strategist Kaleo told his 555,100 Twitter followers that LDO looks strong and ready for a rally against Bitcoin (LDO/BTC). The analyst used the following statements:
If there’s one thing I’ve learned over the last six years, it’s to stay strong. Not missing the Lido before price discovery seems like a much better game than trying to hold a long position on your favorite coin in the last cycle, which is still some 80 percent down from its highs in hopes of a bounce.
LDO outperformed Bitcoin this month
He also says that Lido’s USD chart is bullish as well, but states that LDO is impressive this month as it has managed to outperform Bitcoin despite king crypto’s bullish price action. “The LDO/USD chart looks similar, but the important thing here is that first of all, the BTC chart looks very strong,” according to the analyst. Because the analyst says that he expects a sizable rise in BTC. Therefore, the importance of the BTC chart is undeniable.
Lido is a liquid staking solution for Ethereum. Lido allows users to stake their ETH – with no minimum deposit or infrastructure maintenance. So Lido is a DAO that provides a liquid staking service for Ethereum 2.0 and allows users to earn staking rewards without maintaining the staking infrastructure. The coin is used in the Lido DAO to grant governance rights, manage fee parameters and distribution, and manage the addition and removal of Lido nodes.
Lido is changing hands at $2.56, up nearly 170 percent from its low of $0.952 at the start of the year. The LDO/BTC pair is trading at 0.00011203 BTC at the time of writing. Kaleo also doubles down on his prediction that the king crypto asset will go to $30,000. Looking at his Chart, Kaleo believes that Bitcoin will reach $30,000 in February. In addition, the charts shared by the analyst show that BTC has risen to about $ 35,000. At the time of writing, Bitcoin is changing hands at $23,107.
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