OKB surged by 125.41% in the past 30 days, making it the top gainer of the month. Ethena (ENA) followed with a 91.31% increase. Conflux (CFX) also rewarded its investors with a remarkable 78.75% rise. 

Meanwhile, Mantle (MNT) advanced by 72.64%, while Lido DAO (LDO) climbed 49.61%. Aerodrome Finance (AERO) added 48.06%, positioning itself as one of the strongest DeFi performers. 

Top Gaining Cryptocurrencies and Investor Interest 

Decentralized-focused projects also gained traction during August. Cronos (CRO) jumped 35.98% to secure a spot in the top 10. Flare (FLR) rose 35.51%, increasing investor attention. Story Protocol (IP) advanced by 32.51%, strengthening its position in the market. 

Ethereum (ETH), the second-largest cryptocurrencies, gained 30.79% and entered the list of top gainers. Tezos (XTZ) posted a 29.41% increase. Chainlink (LINK) rose 29.26%, closing the top 10 of August’s biggest movers. 

In the end, the data clearly highlights where investor focus has shifted this month. Strong projects paired with high trading volumes fueled notable rallies. This once again proved the dynamic nature of the cryptocurrencies market. 

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The post Top Gaining Cryptocurrencies in August! OKB, Ethena and More appeared first on Coin Engineer.

LDO Technical Outlook and Possible Scenarios

If LDO manages to close above the $1.55 level on the daily chart, the next target could be around $1.72. In that case, the short-term uptrend could extend further. On the downside, the strongest support zone appears to be at $1.22. Additionally, if the price revisits the $1.41 – $1.36 range and gains bullish confirmation from there, it could create opportunities for upward trades. Still, this area should be monitored closely.

Factors Driving the Rally

On Thursday, August 14, the Lido team will hold an important session to share their roadmap and long-term plans. This event is expected to draw more investor interest and potentially support LDO’s price. Alongside this, the strengthening Ethereum staking trend, the rise in Ethereum price, increased positions from large investors (whales) in certain DeFi blue-chip assets, and key technical breakouts have all contributed to LDO’s rally.

Overall, the combination of both technical and fundamental drivers has played a major role in LDO’s strong performance over the past few weeks.

This content does not constitute investment advice. Markets carry high risk, and you should always conduct your own research before making investment decisions.

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The post Why is Lido DAO (LDO) Rising? appeared first on Coin Engineer.

Downtrend Break Fails to Deliver Momentum

Recently, LDO managed to break above its descending trendline — a move often perceived as a bullish signal by market participants. However, contrary to expectations, no significant upside momentum followed. Instead, LDO came under renewed selling pressure, eventually losing the support zone between 0.98 – 0.96.

This breakdown could be interpreted as a reflection of weak buying interest in the market. In periods where major assets like Bitcoin and Ethereum are moving sideways or showing bearish tendencies, smaller projects like LDO often struggle to attract strong trading volumes.

Eyes on the New Support: 0.88 – 0.87 Zone

With the recent pullback, the price has now approached the 0.88 – 0.87 range, which serves as the next short-term support level. This area holds technical significance as it could be a point where buyers re-enter the market.

However, if this level fails to hold, the decline could extend towards the 0.83 zone. Especially in weak global market conditions, support levels can be easily breached — a risk that traders should not overlook.

Resistance Levels to Watch: 0.96 – 0.98 and Beyond

In a potential recovery scenario, the immediate resistance is situated in the 0.96 – 0.98 range. A successful move above this region could open the door for a climb toward 1.05. However, for this breakout to be sustainable, it would require not just technical confirmation, but also a more favorable overall market sentiment.

Without that support from the broader market, any minor upward move could simply become a magnet for short positions, increasing selling pressure once again.

This content is not financial advice. The cryptocurrency market carries high levels of risk, and it is essential to conduct your own research before making any investment decisions.

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The post LDO Technical Outlook: Support Break Raises Caution appeared first on Coin Engineer.

Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 2.40% in the last 24 hours and is currently trading at $104,732. Bitcoin (BTC) took a slight bounce from the $102,599 support level mentioned in yesterday’s analysis. If BTC continues to rise, it should close above the $105,766 resistance level. The key support levels are $102,599 and $101,545.

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Ethereum (ETH): The ETH/USDT pair has gained 5.48% in the last 24 hours and is currently trading at $3,385. The resistance levels for Ethereum (ETH) are $3,440, followed by $3,535. Key support levels are $3,290 and $3,217.

Lido DAO (LDO): The LDO/USDT pair has surged 11.74% in the past 24 hours and is currently trading at $2.00. LDO’s resistance levels stand at $2.009, followed by $2.09. Key support levels are $1.94, with deeper declines possibly reaching $1.836.

Ethereum Name Service (ENS): The ENS/USDT pair has risen 8.44% in the last 24 hours and is now trading at $36.14. ENS resistance levels are $36.47, followed by $37.75. Key support levels are $34.44, with deeper declines possibly reaching $32.64.

Ethena (ENA): The ENA/USDT pair has gained 6.83% in the last 24 hours and is currently trading at $0.8963. ENA resistance levels are $0.9664, followed by $1.0162. The support levels are $0.8117, with further declines potentially reaching $0.7566.

Trending Coins

In the past 24 hours, the most trending coins in the crypto market include MANTRA (OM), Reploy (RAI), and Koma Inu (KOMA).

The top gainers are Onyxcoin (XCN), Constellation (DAG), and MEOW (MEOW).

Meanwhile, the top losers in the market include Animecoin (ANIME), VeThor (VTHO), and Melania Meme (MELANIA).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the largest liquidation zone on the upside is at $106,484, with $97.23 million in liquidations.

On the downside, a major liquidation level is at $101,641, with $48.34 million in liquidations.

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The post The Latest on Bitcoin and Cryptocurrencies: 24 January appeared first on Coin Engineer.

Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 1.54% in the last 24 hours and is currently trading at $99,168. Bitcoin (BTC) has rebounded from the previously mentioned $97,362 support level and continues to rise. If the uptrend persists, the next resistance level is at $99,304. Support levels are located at $97,362 and $94,703, respectively.

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Ethereum (ETH): The ETH/USDT pair has increased by 1.11% in the last 24 hours and is now trading at $3,652. For ETH, the resistance levels are at $3,653 first, followed by $3,750. Support levels are found at $3,535 and $3,440.

Arbitrum (ARB): The ARB/USDT pair has surged by 6.26% in the last 24 hours and is currently trading at $0.95. Resistance levels for ARB are at $0.95, with the next at $1.01. Support zones are identified at $0.88, with a deeper drop potentially testing $0.845.

Sei (SEI): The SEI/USDT pair has risen 0.51% in the last 24 hours, trading at $0.46. For SEI, resistance levels are at $0.48 and $0.51, while support zones are located at $0.448 and $0.41, respectively.

Lido DAO (LDO): The LDO/USDT pair has gained 0.76% in the last 24 hours and is trading at $2.05. Resistance levels for LDO are $2.09, followed by $2.17, while support zones are at $2 and $1.94 for deeper pullbacks.

Trending Coins

In the last 24 hours, trending coins in the crypto market include PHNIX (PHNIX), Vector Smart Gas (VSG), and ai16z (AI16Z). The top gainers are Osmosis (OSMO) and Freysa AI (FAI), while the biggest losers are Sonic (S), ACT I The AI Prophecy (ACT), and AI Rig Complex (ARC).

Bitcoin Liquidation Map

Analyzing Bitcoin’s 12-hour liquidation map, a notable liquidation zone is seen at $100,758 with $77.80 million, while on the downside, $98,168 holds a liquidation level of $51.84 million.

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The post The Latest on Bitcoin and Cryptocurrencies: 6 January appeared first on Coin Engineer.

Technical Indicators: Strong Bearish Sentiment

Technical indicators of Lido DAO show a “Strong Sell” attitude; seven indicators point to a sale and only one sits in neutral territory.

• Relative Strength Index (RSI 14): At 37.307, the RSI is below the neutral 50 level, indicating bearish momentum. Though it’s approaching oversold territory, it suggests that LDO has more room to decline before reversing course.
• Stochastic Oscillator (9,6): At 13.807, the Stochastic Oscillator indicates that Lido DAO is deeply oversold, potentially signaling a buying opportunity for traders looking to capitalize on short-term price movements. However, given the overall sentiment, caution is advised.
• Stochastic RSI (14): Similarly, the Stochastic RSI at 23.049 reinforces the oversold condition of LDO, further indicating that the market may be due for a temporary bounce. Still, the bearish momentum may persist.
• MACD (12,26): The MACD at -0.352 gives a clear “Sell” signal, suggesting that the overall trend remains negative, with no immediate signs of recovery. The negative MACD value points to continued downward pressure in the coming days.
• Williams %R: At -89.969, the Williams %R is deeply oversold, indicating that Lido DAO is undervalued in the current market. This suggests the potential for a rebound, though the broader market conditions must improve for this to materialize.
• Average True Range (ATR 14): The ATR of 0.3716 suggests low volatility, indicating that while Lido DAO is in a downtrend, the price movements may not be sharp or erratic, allowing traders to carefully consider their positions.

The majority of these technical indicators point to a strong bearish outlook, with oversold conditions suggesting potential short-term relief but not enough to reverse the broader trend.

Moving Averages: Consistent Bearish Signals

With no purchase signals either short-term or long-term, Lido DAO’s moving averages likewise show a generally bearish trend.

• MA5 and MA10: Both short-term moving averages indicate “Sell” signals, with the 5-day simple moving average (SMA) at 1.0664 and the 10-day SMA at 1.2366, reflecting weak momentum in the near term.
• MA20: The 20-day moving average, both simple and exponential, also signals a “Sell,” with values of 1.6070 and 1.5780, respectively. This suggests that Lido DAO is struggling to maintain any upward momentum over the medium term.
• MA50, MA100, and MA200: Long-term moving averages provide no respite for LDO, with all indicators showing “Sell” signals. The 50-day SMA at 2.1711, 100-day SMA at 2.0226, and 200-day SMA at 1.1618 reflect the sustained bearish pressure on the token, pointing to a lack of long-term support levels.

These moving averages show Lido DAO’s continuous price deterioration, implying that major positive catalysts could be needed to turn the trend in a more advantageous direction.

Market Performance and Financials

Lido DAO stays a major player in the DeFi scene despite the adverse technical signs. With a $933.67 million market capitalization and a 6.69% drop over the previous week, LDO presently ranks #68 among cryptocurrencies according to CoinMarketCap. Driven by perhaps selling pressure, the 24-hour trading volume of $85.87 million has jumped by 62.27%, suggesting more market activity.

With a volume-to-market cap ratio of 9.20%, LDO’s market cap shows that some of it is frequently traded, but the higher trading volume could also point to investors leaving their holdings.

With a total value locked (TVL) of $23.39 billion, Lido DAO’s dominance in the staking and DeFi markets is highlighted. From a basic standpoint, the market cap-to-TVL ratio of 0.0398 indicates, however, that the market cap does not entirely represent the underlying value of the platform, implying that LDO could be underpriced. Still, the bearish technical indications advise prudence in the near run.

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The post Lido DAO (LDO) Weekly Analysis: Strong Bearish Sentiment appeared first on Coin Engineer.

The Biggest Losers

JasmyCoin (JASMY): Once a popular altcoin, JASMY has seen a dramatic 31.20% decline in the past 24 hours. The coin has been particularly hard hit by futures market activity.

dogwifhat (WIF): This Solana-based memecoin has lost 30% of its value in the past day. The coin has been under significant selling pressure due to open interest and overall market sentiment.

Lido DAO (LDO): Despite the anticipated launch of spot ETH ETFs, LDO has experienced a sharp decline. With ETH losing over $2500, LDO has lost several support levels.

Brett (BRETT): As one of the most popular memecoins on the Base network, BRETT has been on a downward trend. The underperformance of the Base network compared to Solana and Ethereum has contributed to this decline.

Pepe (PEPE): Ethereum’s leading memecoin, PEPE, has continued to face selling pressure. The coin has lost 27.70% in the past 24 hours.

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The post Top 5 Altcoins That Crashed Amidst Broader Market Downturn appeared first on Coin Engineer.

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The total value locked (TVL) of Ethereum-based liquid restaking protocol EigenLayer saw an incredible increase of $1 billion just eight hours after the protocol temporarily lifted its staking limit.

On February 5th, EigenLayer announced plans to temporarily lift its 200,000 Ether (ETH) protocol staking limit until February 9th to “attract organic demand” to its network. The protocol stated that this temporary change could pave the way for the permanent removal of all staking limits in the future.

EigenLayer Restaking Reloaded!

From NOW until Feb 9th, 12 PM PT, dive back into the world of LST restaking! All pools are fully uncapped, featuring both the existing pools and welcoming new partners @fraxfinance, @liquid_col, & @0xMantle. pic.twitter.com/yDGHiJjX3m

— EigenLayer (@eigenlayer) February 5, 2024

EigenLayer TVL

Just eight hours after the announcement, EigenLayer’s TVL jumped from $2.5 billion to approximately $3.58 billion, as investors rushed to stake their liquid-staked ETH tokens on the protocol. According to DefiLlama data, this represents a massive $1.6 billion increase over the past week.

EigenLayer is a protocol that allows investors to earn additional yield by staking their staked ETH tokens to secure other networks. It currently supports liquid staking tokens such as Lido DAO’s staked ETH (stETH) and Swell Stated Ether (swETH).

Lido Staked ETH is the largest restaked token on EigenLayer, accounting for $1.2 billion of the protocol’s total TVL. Swell Staked ETH is the second largest token on the protocol, with a TVL of $392 million.

The process of restaking allows investors to lock their existing liquid staking tokens and earn interest, while also using those tokens to participate in validation, lending, and liquidity provision on other blockchain networks.

While EigenLayer has seen widespread adoption for providing a new use case for staked ETH tokens, market commentators and developers have raised concerns about the protocol’s mechanics, particularly the high leverage nature of its restaking capabilities.

In May 2023, Ethereum co-founder Vitalik Buterin warned that a significant increase in restaking, coupled with the overutilization of data or price oracles, could pose significant “systemic risks” to the Ethereum ecosystem.

EigenLayer’s Testnet was launched on April 7, 2023, and the protocol’s Mainnet was launched two months later on June 14. Since then, the protocol’s TVL has grown by a staggering 21,623%, reflecting the overall excitement in the crypto market for restaking.

The post EigenLayer TVL Surges After Removing Staking Limits! appeared first on Coin Engineer.