Lưu trữ cho từ khóa: Price Analysis

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Can Render reach $25 in 2025?

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With the 2025 bull run around the corner, the Render Network price can rise dramatically. The surge in demand for 3D graphics in entertainment raises the question: Could RENDER soar to $25 by 2025? Let’s explore the factors at play.

What is Render?

The Render Network is a decentralized platform for GPU rendering that allows artists to use powerful GPU nodes worldwide for their projects on demand. Node providers contribute their unused GPU power to a blockchain-based marketplace, which enables faster and cheaper rendering than traditional centralized services. In this system, the Render token serves as the medium of exchange between users and providers of GPU power.

Moreover, Render Network is part of the OTOY technology stack, which uses OctaneRender software. The integration extends to widely used applications such as Blender, Adobe After Effects, Houdini, Autodesk Maya, Unreal Engine, and more.

Market potential

The entertainment industry, particularly gaming and cinema, is the primary market for 3D graphics rendering. The demand for computer-generated imagery (CGI) and animation only continues to grow. For example, according to PwC Global, the entertainment sector can potentially exceed $3 trillion in value.

The growing demand for 3D graphics will favor platforms such as Render that offer scalable rendering services. Additionally, the Render Network’s availability on multiple blockchain networks – Ethereum, Polygon, and Solana – provides additional flexibility and reach. Among these, Solana stands out as particularly capable of handling increased rendering workloads due to its high scalability and cheap transaction fees.

Furthermore, Render has already collaborated with major productions, including the VR experience for “Batman: The Animated Series” and the opening titles for “Westworld.”

Market position

As of July 25, Render Network is number 2 in distributed computing, second only to Internet Computer, and ranks 32nd in the broader crypto market with a market cap of around $2.6 billion.

While some folks might be popping hopium pills and dreaming of tokens skyrocketing to $100 or even $1,000, the price analysis must be realistic. Render’s already high-ranking position limits its growth potential. It’s not really about crushing dreams but about looking at the market with clear eyes instead of rose-tinted glasses.

Inflation and supply

Render Network does not face significant concerns over token unlocks, as most tokens have already been unlocked. The only new tokens entering circulation are due to the inflation rate, set at 760,567 RENDER per month to incentivize users. However, the actual circulating supply has inflated differently. From January 2024 to July 2024, the supply increased by 18,950,928 RENDER, resulting in a 5.1% inflation rate over six months.

Source: https://token.unlocks.app/render-token

The Burn Mint Equilibrium deflationary mechanism has not prevented this level of inflation. If the trend continues, the annual inflation rate will reach 10.2%. This metric is crucial for forecasting the supply by mid-2025 to accurately assess the token’s valuation. Starting with a supply of 390,859,381 tokens, the projected supply would be approximately 430,727,038 RENDER.

Correlation with Bitcoin price movements

Analysis of the Pearson correlation coefficient between RENDER and BTC from 2020 to July 2024 shows a correlation of 0.727. The result indicates a strong linear relationship, with RENDER’s price movements closely following BTC’s.

The analysis also looked at the yearly standard deviations for RENDER and BTC, which were 1.725 and 0.616, respectively. Furthermore, RENDER had annual returns of 235.69%, while BTC had 62.98%. These numbers helped create a model to predict RENDER’s price changes based on BTC’s movements.

RENDER BTC
Annual Return 235.69% 62.98%
Annual St. Deviation 1.725 0.616
Pearson Correlation Coefficient 0.727 0.727

Render’s 2025 bull run price analysis

We developed a model with three scenarios: bear case, base case, and bull case. These scenarios correspond to BTC prices in 2025 of $100,000, $150,000, and $200,000, respectively. By standardizing the changes in BTC and RENDER, we calculated the expected price for RENDER in each scenario. The calculations assume a BTC price of $65,000 and a RENDER price of $6.80 as the starting points:

Bear Case Base Case Bull Case
BTC $100,000 $150,000 $200,000
RENDER $14.26 $24.91 $35.57

The base case scenario appears to be the most realistic. Given the calculated supply, it projects RENDER reaching a market cap of approximately $10.73 billion and a price of $24.91. This market cap seems achievable, considering RENDER will not be the only token to rise during a bull run.

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Expert explains why Ethereum price suffered a harsh reversal

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Ethereum price has dropped for two consecutive days, erasing most gains in the last three weeks.

The price of Ethereum (ETH) retreated to $3,145 on Thursday, its lowest level since July 13 and 11% below its highest point this week.

Ethereum price chart | Source: TradingView

Why Ethereum price is falling

This pullback happened despite the Securities and Exchange Commission’s recent approval of spot Ethereum ETFs and their strong performance. 

On Wednesday, these ETFs traded about $852 million compared to Bitcoin’s $1.1 billion, meaning that there is strong demand among investors. Data by Blackrock shows that ETHA has over $269 million in assets, while the Bitwise Ethereum ETF (ETHW) has $230 million in assets.

Ethereum has dropped for three reasons. In a note, Michael van de Poppe, a popular crypto analyst, pointed to the ongoing liquidations from the Grayscale Ethereum Trust (ETHE), a fund with an expense ratio of 2.50%. 

As it happened with the Grayscale Bitcoin ETF, many investors have sold their holdings and moved them to cheaper funds. For example, an ETHE investor with $100,000 in assets will pay a fee of $2,500, while one in Grayscale’s Mini Ethereum ETF (ETH) will pay just $150. 

Therefore, Michael believes that Ethereum price could retreat some more soon and then bounce back when outflows from ETHE ease. He expects that the coin could jump to a record high when these outflows end.

Buy the rumor, sell the news

Second, Ethereum price is falling as investors sell the news since the token rallied ahead of the approval. In most cases, assets rise ahead of a major event and then retreat when it happens. This happened after the recent Bitcoin halving, the approval of Bitcoin ETFs in January, and the judgment of the Ripple vs. SEC case. 

Finally, the decline aligns with the ongoing Bitcoin (BTC) price action. BTC, the biggest crypto in the industry, has dropped for four straight days, triggering a deep sell-off among other altcoins like Avalanche (AVAX) and Jasmy. 

Despite the ongoing decline, a bullish case can be made for Ethereum. It is the second-biggest cryptocurrency in the world, has a long history of outperforming Bitcoin, and has strong utility, as Jay Jacobs of BlackRock said.

Ethereum is still the most active blockchain network. It handles the most stablecoin transactions, has the most assets in the decentralized finance industry, and makes the most money. Data by TokenTerminal shows that it has made over $1.7 billion in fees this year, double what Tron (TRX) and Bitcoin have made combined. 

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Altcoin

Best performing cryptocurrencies right now

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The crypto market is down over the last 7 days, with the market cap falling from $2.37 trillion to $2.27 trillion. However, there are individual cryptocurrencies, of course, that are still yielding returns for their investors.

This article highlights the top 10 performing cryptocurrencies over the last 7 days according to Coinmarketcap, as well as some insights into what exactly might be driving price.

Top 10 crypto gainers of the week

Let’s take a look at the best performing crypto coins this week. Our list of biggest crypto winners are taken from the top 300 results on Coinmarketcap, removing some of the projects that may be extremely volatile or subject to especially high risk for crypto traders, although many projects on this should still be viewed as very risky indeed.

1. Popcat (POPCAT)

The top performing coin this week is, unsusprisingly, a cat-based meme coin. POPCAT is hosted on the Solana blockchain and does not have or claim to have any particular utility, focused solely on entertainment value and speculative gains that meme coiners everywhere love to chase.

POPCAT is currently up 72% over the last 7 days after some new exchange listings added extra liquidity to the market.

2. Mog Coin (MOG)

If you haven’t had enough of meme coins boasting cartoon cats as their mascot, you’re in for a treat! Mog Coin (MOG) is another meme coin that comes in ninth on our list. It lives on the Ethereum network, although it can also bridge between Ethereum and Bitcoin thanks to an integration with Multibit. The project site says that users can purchase goods and services with the coin.

MOG is up 59% this week. Crypto users should always be wary of speculative meme coins, but perhaps exceedingly so in this case. In May of this year, crypto.news wrote about how Mog Coin is potentially full of security flaws, which we’ve linked below.

3. Rollbit Coin (RLB)

RLB is the native crypto token for the Rollbit cryptocurrency casino and exchange, offering various discounts and rewards to users of the casino willing to purchase the coin. This week, the coin is up 41%, and the surge in price can be attributed to a recent announcement that the casino would burn RLB tokens.

Token burns, where a project destroys part of the token supply permanently, can often lead to increased prices due to scarcity they create in the circulating supply of the currency.

4. Delysium (AGI)

Delysium describes itself as an “AI-powered virtual society” with a vision to host one billion users, as well as 100 billion virtual users. Bitget’s social data summary of Delysium indicates that a total of 34 users have discussed Delysium in the last 24 hours.

The coin is up 34% in the last week, riding high on the news that the project is releasing Agent-ID, a system for introducing AI agents on the platform.

5. SingularityNET (AGIX)

SingularityNET (AGIX) is up 28% this week on news that AGIX will merge with the FET and OCEAN tokens. All three projects involve AI, a trending niche of today’s financial investment and technology markets.

SingularityNET describes itself as a “decentralized AI marketplace”, with its native AGIX token allowing users to vote on governance decisions.

6. Ocean Protocol (OCEAN)

Ocean Protocol aims to allow users to monetize their data as well as data-based services. This concept of user-monetized data has been a hot topic since the rise of the internet of things (IoT), bolstered by scandals in traditional social media such as data leaks and perceived manipulation of social feeds online.

OCEAN is one of three tokens merging with AGIX, and is now up 30% for the week.

7. Fetch.ai (FET)

Fetch.ai is the third token involved in the aforementioned merger. The project boasts partnerships and collaborations with major companies like Bosch as well as a potential smart city use case in the city of Munich, Germany. You can read more about Fetch.ai here.

The project offers AI services on demand, and its token is now up 30% this week.

8. Non-Playable Coin (NPC)

This humorously-named project is a meme coin with little on-paper utility, opting for entertainment value instead. NPC token plays on the idea of mob mentality and people mindlessly buying crypto tokens without researching them first, and the project motto is “I support the current token” in a play on words of a popular online meme.

The coin is up 29% over the last 7 days, possibly on unsubstantiated rumors of a Binance listing. Readers should note that the project has been seeding various news articles online as part of their marketing efforts, and that there is no evidence of any upcoming listing at this time.

9. WEMIX (WEMIX)

WEMIX is a blockchain gaming platform. The site claims that it is the largest such platform in the world, and that over half a million users are playing blockchain games.

The coin was delisted from Bithumb, Upbit, Coinone, and Korbit in 2022 after the exchanges accused Wemix of supplying them with false information during their listing application. WEMIX is up 28% this week.

10. Wrapped Centrifuge (WCFG)

Wrapped Centrifuge is the Ethereum version of CFG token native to the Centrifuge network. The Centrifuge project offers DeFi and investing services, allowing users to invest in crypto derivatives. CFG is not available on the Ethereum network directly, so users can buy WCFG instead which is intended to represent and remain stable to the price of CFG.

WCFG is up 25% this week, as, of course, is CFG token, with WCFG rising slightly higher.

Assessing the best performing altcoins

When considering the altcoin top gainers of the week, it can be tempting to simply buy into a project that has risen a lot in value recently. Of course, there is no guarantee that price will continue to rise. Many people often have the same idea to chase trading volume, which can result in the expectation of a coin becoming oversold.

Savvy investors tend to thoroughly assess the underlying utility of crypto top gainers as well as the reputation of the team and the project’s track record as well as simply considering the recent price action.

While many traders focus purely on charts and view the market in terms of crypto’s best performers, the market is such that major players can bet against the flow and cause major losses for retail traders trying to follow price trends.

For example, the highest performing crypto on this list is a meme coin with no stated utility. While prices may increase, these projects are extremely volatile and subject to severe price swings, and many in the space view purchasing such coins as gambling rather than trading or investing.

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Theo Crypto News

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Pepe price forms bullish patterns as traders eye a breakout

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Pepe price rose on Wednesday, becoming one of the best-performing memecoins in the industry.

Memecoin Pepe (PEPE) rose by 8.2%, reaching a high of $0.00001308, its highest point since June 26. 

Pepe open interest has risen

Its rally happened in a high-volume environment as the 24-hour figure jumped to $1.6 billion, higher than Dogecoin (DOGE) and Shiba Inu (SHIB) combined. Dogecoin had a 24-hour volume of $939 million while SHIB had $277 million. 

Pepe’s rebound also happened when the open interest in the futures market rose to the highest point since June 7th. It had over $155 million in open interest, mostly from Bitget and OKX. 

Pepe futures open interest | source: CoinGlass

There are also signs that whales – big holders – have continued to accumulate the Pepe token, which explains why it has risen by over 72% from its lowest point this month. 

Data by Etherscan shows that the number of Pepe holders has continued rising this month. They crossed 264,000 on Wednesday and this trend may continue if its rebound continues.

There was no clear catalyst that pushed Pepe higher on Monday. A likely reason is the fact that the fear and greed in the crypto industry has moved to the greed zone after the Ethereum ETF approval this week. In most periods, meme coins like Pepe and Cat in a Dogs World (MEW) do well when there is a sense of greed in the market. 

Analysts are bullish on Pepe price

Crypto traders have also identified several bullish patterns that could push it higher in the coming days. One analyst noted that it had formed an inverse head and shoulders pattern, a popular bullish sign.

Others identified a bullish flag pattern, which is characterized by a long flagpole and a rectangle pattern, as shown below. 

Pepe price chart | source: TradingView

Pepe has been one of the best-performing cryptocurrencies since 2023. It has risen by almost 800% in the past 12 months while Dogecoin, Shiba Inu, and Ethereum have risen by less than 125%. 

This year, however, it has faced stiff competition from Solana-based meme coins like Dogwifhat, Popcat, and Cat in a dogs world.

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Theo Crypto News

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Polymarket: Solana price will not reach an all-time high in 2024

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Solana’s (SOL) price has bounced back after bottoming at $121.50 earlier this month. It has rebounded by almost 50% and is hovering near its highest swing since May 21. 

Solana price chart

Solana’s ecosystem is booming

Solana has been one of the most active blockchains this year. DefiLlama data shows that its DEX volume has flipped Ethereum, thanks to the strong performance of its meme coins, such as Dogwifhat (WIF) and Bonk.

Top ten chains in DEX volume

Solana has also become one of the biggest blockchains for Decentralized Public Infrastructure (DePIN). Some of its top DePIN projects are Hivemapper, a decentralized alternative to Google that has mapped 14.47 million kilometers, and Helium. 

Solana has also become a leading player in the stablecoin industry. Solscan data shows that its stablecoin market cap has jumped recently. It has over $2.6 billion worth of USD Coin and $1.88 billion worth of Tether. The number of stablecoin holders in the ecosystem stands at over 3 million. 

Developers love Solana due to its lower transaction fees. While Solana’s network has been busy this year, its total fees are $283 million, while Ethereum has made over $1.7 billion. Companies like Lido Finance and Uniswap have collected more in fees than Solana.

Most Polymarket users don’t expect Solana price to hit ATH

Despite these metrics, most participants in Polymarket believe that Solana’s price will not jump to a record high this year. Fifty-seven percent of the $219,950 stake in the trade supports this, while 22% and 23% expect it to reach a record high in Q4 and Q3, respectively.

Solana reached its record high of $260 in 2021. As such, it must rise by another 45% to hit that level. A 45% jump in the crypto industry is possible, as some analysts are predicting. 

A potential catalyst for such a move will be the possibility of a spot Solana ETF approval by the Securities and Exchange Commission (SEC). If the SEC approves Ethereum, as is widely expected, the focus will turn to Solana, where VanEck has made its first application.

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Theo Crypto News

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Pi Network price stalls as traders wait for the ‘real deal’

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Pi Network token price has remained in a consolidation phase since March as investors wait for the promised mainnet launch.

Pi Network price chart

The IOU token has been stuck at $40 in a low-volume environment. 

Pi Network mainnet launch ahead

There are signs that Pi Network developers are gearing towards the much anticipated mainnet launch. 

Earlier this year, the team listed three conditions that must be met for this to happen.

The first condition is that at least 15 million pioneers must be verified, a process that will remove bots from the ecosystem. In a recent note, the developers noted that over 11 million pioneers had passed the verification stage. 

Another important step is the six-month grace period, which started earlier this month. During this period, all pioneers are required to complete the verification process. Therefore, if the other two conditions are met, Pi may move to the Open Network by either December or January.

The other condition is that the developers hope that the network will have at least 100 dApps, a move that will create utility for the token. It is unclear how many dApps are in the current enclosed mainnet period. 

Finally, Pi Network hopes to launch its ‘airdrop’ when the market is supportive, i.e., when cryptocurrencies are rising. 

Pi Coin IOU has consolidated

The Pi Network IoU is a cryptocurrency launched in 2022 and is available in just a few exchanges. It initially jumped to $343 after launch and then plummeted as the Pi Network developers disowned it. 

Since then, the token’s biggest jump happened in March, as Bitcoin reached a record high. At the time, it rose to $120 and then retreated to $40, where it has remained since March. 

Pi Network’s token is thinly traded, with the average daily volume being less than $600,000, meaning that it is not a good representation of how the real Pi will trade. 

Recent events in the tap-to-earn have sent signals on what to expect when Pi Network is listed in major exchanges. Notcoin, the first tap-to-earn token to go public, initially rose to $0.030 in June and then pulled back to $0.016. Similarly, the Pixelverse (PIXFI) token rose to $0.10 and then dropped by 50% to $0.050. 

While the technologies differ, Pi Network is a tap-to-earn platform since pioneers earn tokens by just tapping the app button. These platforms also create utilities like gaming. 

Therefore, there is a likelihood that the Pi Coin IoU price will remain in a tight range as investors wait for the real deal: the mainnet launch.

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Theo Crypto News

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Chart of the week: 1-Month performance review

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crypto.news recently launched a “Chart of the Week” series on Fridays to showcase potential trades with significant gains. Over the past month, five coins appeared interesting, leading to seven trades, both long and short. The total portfolio return ended in the green.

Below are two tables that provide a comprehensive overview of the trading activities over the past month. The first table outlines each trade, specifying the tokens selected and the type of trade conducted.

Cryptocurrency Trade 1 Trade 2
LIDO SHORT LONG
BONK LONG N/A
OM SHORT IGNORED
NOT LONG SHORT
WIF LONG N/A
Summary of trades by token and trade type

On the other hand, the second table details the percentage returns from each trade.

Cryptocurrency Trade 1 Trade 2
LIDO 11.62% 7.5%
BONK 20.93% N/A
OM -5% N/A
NOT 9.03% 11.24%
WIF 10% N/A
Percentage returns from each trade

Careful analysis of market trends and token positions led to success in determining movements 6 times out of 8 predictions, with 7 of these predictions resulting in trades. Two trades involving Mantra failed, as the token’s price surged instead of declining, triggering the stop loss and causing a 5% loss. This led to abandoning the trade, making both predictions incorrect. Therefore, 6 trades succeeded, and 1 trade failed.

Overall, the success rate was 85.71% in trades and 75% in predictions. With an initial $1,000 allocated to the first trade and all returns reinvested, the portfolio generated a total return of 83.91% or $839.11.

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Theo Crypto News

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Ethereum ETFs: Potential inflows and Ethereum price impact analysis

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Today, Ethereum ETFs made their long-awaited debut on major stock exchanges. This article will analyze projected inflows for Ethereum ETFs and how they might influence the future price of ETH. By comparing the recent success of Bitcoin ETFs, we will explore the potential impact on Ethereum prices in the coming months.

Understanding Bitcoin ETF inflows and their implications for Ethereum

While Bitcoin ETFs have seen substantial inflows, expectations for Ethereum ETFs are more modest. Since their inception, Bitcoin ETFs have attracted significant investor interest. As of July 18, these financial instruments saw a net inflow of $16.67 billion over approximately six months. Despite being the second-largest cryptocurrency, Ethereum is often perceived differently from Bitcoin. It is not typically seen as a store of value or “digital gold.” This distinction, combined with Bitcoin’s more established market position, suggests that Ethereum may not attract the same level of ETF inflows as Bitcoin.

Source: Farside Investors

Eric Balchunas, a senior ETF analyst at Bloomberg, has provided conservative estimates for Ethereum ETF inflows and believes that these funds will attract only 10-15% of the inflows seen by Bitcoin ETFs.

Additionally, when looking at the derivatives market, the open interest for Ethereum futures and options on the CME is approximately $1.67 billion, while Bitcoin’s open interest stands at $12.56 billion. The CME, which mainly serves institutional investors, shows that Ethereum’s share is about 13.3% of Bitcoin’s. In the broader derivatives market, Ethereum’s total open interest is $20.74 billion compared to Bitcoin’s $54.1 billion, which translates to a 38.34% ratio. These figures reinforce the conservative projections for Ethereum ETF inflows compared to Bitcoin.

Academic insights into ETF effects on market prices

A question often arises: why would ETF inflows impact the price of an underlying asset, such as Ethereum? Several academic studies have confirmed ETFs’ significant influence on underlying asset prices. Research by Ben-David et al. (2018) demonstrates that ETFs can lead to increased volatility and price deviations from fundamental values in the securities they track. The study attributes these effects to the mechanical rebalancing and trading strategies employed by ETFs, which can amplify price movements and introduce non-fundamental shocks into the market.

Further supporting evidence comes from Luca J. Liebi’s literature review. The research highlights ETFs’ role in improving market liquidity and price efficiency under normal conditions. Empirical evidence suggests that ETFs, particularly those with high leverage, can magnify price changes in underlying assets due to their rebalancing activities. These studies collectively indicate that ETF inflows tend to push up the prices of the assets they track, lending credence to the hypothesis that Ethereum ETFs could similarly impact ETH prices.

Potential inflow scenarios for Ethereum ETFs

Based on the analysis above, four potential scenarios for Ethereum ETF inflows emerge:

Percentage of Bitcoin ETF Inflows Ethereum ETF Inflows
10% $1.67B
15% $2.50B
20% $3.33B
25% $4.17B

These projections estimate the potential inflows Ethereum ETFs might experience by the end of 2024, using the $16.668 billion figure for Bitcoin as a baseline.

Ethereum price impact analysis

To estimate the price impact of these potential inflows, four multipliers are considered: 0.5x, 1x, 1.5x, and 2x. These multipliers reflect varying degrees of price sensitivity to ETF inflows.

10% 15% 20% 25%
0.5x $3,570 $3,655 $3,740 $3,825
1x $3,740 $3,910 $4,080 $4,250
1.5x $3,910 $4,165 $4,420 $4,675
2x $4,080 $4,420 $4,760 $5,100

Assuming a current Ethereum price of $3,400, the estimated price impact by the end of 2024, solely from ETF inflows, would range from $170 to $1,700. With more likely multipliers (1x to 1.5x), the price increase would be between $340 and $1,275. This suggests a potential Ethereum price range of $3,740 to $4,675.

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Theo Crypto News

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Chart of the week: Will Lido DAO (LDO) bull run continue

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As of June 21, 2024, Lido has experienced a surge of 20.57% in the past seven days. However, the likelihood of continued upward movement seems limited. The primary factor is its proximity to a historical resistance level at .30 on the daily timeframe. This resistance level has historically posed a significant barrier, and without a decisive breakout above .30 and, subsequently, .40, sustained upward momentum remains doubtful.

Technical Indicators

Resistance and Support Levels

  • Current resistance: .30
  • Additional resistance: .40
  • Support level: .00

TradingView

Relative Strength Index

The current RSI is approaching the historical resistance level of 60. This suggests that the price is entering overbought territory, which could limit further gains.

Fibonacci Retracement

If Lido fails to break through .30 and .40, a drop to the Fibonacci retracement levels between .997 and .016 (golden pocket) is likely.

TradingView

Network Value to Transactions Signal

The NVT signal is a key metric for evaluating Lido’s valuation. An NVT signal above 55 indicates overvaluation, while a signal below 25 suggests undervaluation. As of June 21, 2024, Lido’s NVT stands at 44, up from 35 a week ago, indicating it is currently fairly valued. The NVT ratio peaked at 79.5 in March, which demonstrates the potential for an upside, but current market conditions and historical performance suggest otherwise.

Glassnode

Historically, the period from June to September tends to be slow for the cryptocurrency market, with an average return of 1.45%. Given that Lido’s performance often correlates with Bitcoin and especially Ethereum, major movements in these cryptocurrencies could impact Lido’s price trajectory.

  • Bitcoin and Ethereum Trends: If Bitcoin and Ethereum experience downturns, Lido is likely to follow suit.
  • Ethereum Staking: As a staking platform for Ethereum, Lido’s performance is closely tied to Ethereum’s market movements.

Strategy

Considering the current market analysis, it is advisable to adopt a cautious approach:

  • Short Position: Given the strong resistance at .30, consider going short on Lido at the current levels.
  • Reentry Point: Look to reenter around the .00 support level, provided it holds this line.
  • Monitoring BTC and ETH: Keep a close watch on the broader market trends, particularly Bitcoin and Ethereum, as their movements will likely influence Lido’s price.

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