As Ethereum Merger Nears, Price of Lido DAO Keeps on Rising

With every day passing by, the implementation date of the Merger for Ethereum is closing in. This is the reason it has become one of the most talked-about topics in the entire cryptocurrency industry.

The talks of the Merge are everywhere in the cryptocurrency industry. The entire crypto-verse is anxious and they want the Merge to talk place as soon as possible.

Importance of the ‘Merge’

According to cryptocurrency experts, the implementation of the Merge is going to be a huge hit in the entire cryptocurrency. For Ethereum, the Merge is coming at the best time possible as the entire cryptocurrency industry is facing a downfall.

The implementation of the Merge will prove to be a great success for Ethereum and it will eventually boost its adoption rate and its value in the market.

To many, the transition of the entire Ethereum blockchain from PoW to PoS is going to be a difficult task. So far, the teams behind the development of the Merge have passed through many obstacles. Things are looking out to be very favorable for the implementation of the Merge.

It is expected that the Merge will be implemented at the exact time it is predicted to be implemented.

Lido DAO Continues to Gain as the Merge Approaches Near

As the Merge approaches near, one protocol known as Lido DAO (LDO) seems to be benefitting tremendously. It is being claimed that the fate of LDO is connected with the successful implementation of the Merge.

It is a major platform that supports liquid staking and it also allows the users to convert their assets into staking funds within the decentralized finance environment.

The report from TradingView shows that the price of LDO was hitting a lower level of $0.42 on June 30. From the low point, the price of LDO kept rising and by July 9, it had risen to $0.874. This shows that from June 30 to July 9, the trading price of LDO surged by 107.6%.

Since July 9, the trading price of LDO has experienced a correction. As a result, the trading price of LDO has moved down to $0.65.

Two Reasons behind LDO’s Price Surge

As per the market observers, LDO has benefited from the merge in two different ways. Therefore, it is safe to say that two factors have helped boost the trading price of LDO.

The first reason is the successful implementation of the testnet prior to the mainnet implementation of the Merge. The particular testnet has been named the Sepolia testnet, which was implemented on July 6. It reportedly changes the orientation of the blockchain from PoW to PoS.

Once this is done, the next testnet will be initiated, which will be the Goerli testnet and after that, the mainnet will be launched. As LDO is a staking platform and the orientation of the blockchain will be changed to PoS, it is definitely going got benefit from that.

The second reason is the deposits that are being made into Ethereum as the Merge closes in. The investors are investing heavily into Ethereum, which is a strong signal and predicts that any protocol on the Ethereum blockchain would benefit from it. Therefore, LDO is also benefiting from the situation.

Author: Jerry Dedmon

Jerry Dedmon is a new writer on Cryptocoin Stock Exchange, his articles are cryptocurrency news, analysis and blockchain news based. We recommend tuning in for Jerry's daily posts as they are always a great and interesting read.

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