Lido Finance (LDO) is set to unlock 1.5 million tokens in the next 24 hours, which will increase the circulating supply and potentially impact the token’s price. The unlock is scheduled for September 13th, and the newly released tokens will represent approximately 0.27% of LDO’s total circulating supply. However, analysts believe that the market conditions can absorb this increase without causing significant disruptions.
Unlocking More Tokens at Lido Finance
Lido Finance, known for its involvement in Ethereum staking, is preparing for its final token unlock, scheduled for September 13th. This event will introduce 1.5 million LDO tokens into circulation, valued at approximately $2.24 million. The newly unlocked tokens will represent around 0.27% of the circulating supply. CoinMarketCap data shows that LDO’s circulating supply currently exceeds 888 million tokens and is expected to surpass 889 million with the additional tokens.
According to CoinMarketCap and Santiment, Lido Finance has experienced a surge in trading volume over the past 24 hours. The trading volume currently stands at over $41 million.
Expected Impact of the LDO Token Unlock
Token unlocks typically lead to price drops due to an increased supply. However, analysts believe that the LDO token may not experience a significant price fluctuation considering the current trading volume and historical trends. With the total value of the unlocked LDO tokens amounting to $2.24 million, the market is expected to absorb this supply increase without significant disruption to LDO’s price trajectory.
FAQ (Frequently Asked Questions)
What is Lido Finance?
Lido Finance is a platform involved in Ethereum staking, providing a way for users to stake their ETH and earn rewards.
What is the LDO token?
The LDO token is the native token of the Lido Finance ecosystem. It is used for governance and staking within the platform.
How many tokens will be unlocked?
A total of 1.5 million LDO tokens will be unlocked in the upcoming event, representing around 0.27% of the circulating supply.
Will the token unlock affect LDO’s price?
While token unlocks typically result in price drops, analysts believe that the market conditions and trading volume can absorb the unlocked tokens without causing significant disruptions to LDO’s price trajectory.
When is the token unlock happening?
The token unlock is scheduled for September 13th, 2023.