Spot buyers step in Spot market sentiment has als

Spot buyers step in

Spot market sentiment has also flipped.

LDO recorded $1.71 million in net outflows from exchanges on the 10th of August, meaning tokens moved into private wallets. Not to mention, this is a clear accumulation signal.

If this pressure holds, LDO could aim for a break above $1.50, with $2 as the next technical target.

Performance update boosts sentiment

In its latest Q2 report, Lido DAO posted a modestly bullish outlook for its staking protocol.

The update highlighted growth in staked token distribution, reaching 478.7K stETH, while maintaining the largest share of staking in the public cloud.

This positive performance update may have played a key role in LDO’s recent rally and in shifting sentiment in the spot market toward a bullish bias.