Lido price is recovering after a recent pullback, maintaining key support at $1.29 while aiming for a potential 30% rally.
Lido Price Recovery
Lido price is currently trending bullish, reaching a peak at $1.63 and now sitting at $1.40. A test of the $1.63 level is expected, with potential growth ranging from 32% to 39% from the current $1.40 level.
Historical Total Value Locked
The recent surge in Lido price coincided with the total value locked (TVL) reaching a record of $41 billion, a significant milestone amid the ongoing Ethereum rally.
Discussions on Buyback Mechanism
The Lido team is exploring the possibility of implementing a buyback mechanism for LDO tokens using stETH. The proposal was made by co-founder Vasiliy Shapovalov during the recent Tokenholder Update Call, with structured discussions expected to conclude in the next 2-3 months.
Support at $1.29 and record TVL open up prospects for further growth in Lido. However, market participants should remain vigilant to signals of potential corrections.
