With the larger crypto market down once again, Lido DAO prices rebounded back to lower levels after charting a short-term recovery.
The news of FTX filing for bankruptcy led to another global crypto market fall reversing the recent gains that top cryptocurrencies had recorded.
Lido DAO LDO token showed a near 30% recovery over the last day, appreciating from the $0.95 level. However, the larger market’s bearish tones pulled LDO price down by 4.5% at press time as Lido DAO token traded at $1.13.
LDO price had retested the $1.25 mark, but macro market uncertainty pulled the token’s price action back to red.
Network Participants Shift Away from LDO
Despite LDO price’s short-term appreciation, there was a significant drop in daily active addresses (DAA) on Lido DAO. DAA noted an over 50% pullback on the last day.
Alongside DAA, transaction volumes also…
