Lido DAO - Mapping LDO's path to $1.17 after 17% daily gain

LDO surged 17% amid strong buying, whale activity, and rising futures interest. However, profit-taking and short positions threaten gains, with potential pullback to $0.891 if selling intensifies.

Lido DAO [LDO] soared 17.69% hitting a local high of $1.119 before slightly retracing to $1.110, at press time. 

This price uptick was backed by a 232% jump in volume, reaching $225 million, signaling increased on-chain activity.

At the same time, the altcoin’s market cap surged 16.27% to $987 million, reflecting increased capital inflow. 

But what’s behind the recent upsurge