Bittime - The crypto world is buzzing again with the price increase of crypto tokens from two different platforms. Audius (AUDIO) and Lido DAO (LDO) have both experienced significant price increases in recent days. Let's look at the reasons behind the price spike.
Audius: Musicians Can Now Sell Albums Directly on the Platform
Music lovers and musicians must be happy with this news. Audius, a blockchain-based music streaming platform, announced a new feature that allows musicians to sell their albums directly on the platform.
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This is certainly good news for musicians who have always wanted greater control over their work and income.
This announcement was immediately welcomed by the market. The price of the AUDIO token, the native token of the Audius platform, surged by 70% in the last two days. Not only that, an analyst named "World Of Charts" saw a promising technical pattern on the AUDIO chart.
Also read: Against the Market Flow, ONDO Token Soars to Reach New ATH!
According to this analyst, AUDIO has the potential to experience a price increase of up to 400% if it succeeds in breaking through this pattern.
Lido DAO: Ethereum ETF Drives LDO Price Increase
Meanwhile, Lido DAO (LDO), a liquid staking protocol for Ethereum, saw its price increase by 6%. This increase in LDO prices appears to have been triggered by positive sentiment in the market related to the recent approval of the launch of an Ethereum-based exchange-traded fund (ETF).
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Daan Crypto Trades analyst provides his views regarding LDO price movements. He admitted that LDO was once considered a "dead" token. However, their price movements usually follow the price trends of Ethereum (ETH) and Bitcoin (BTC).
Also read: Lido Launches Simple DVT Module Expansion, Here's the Explanation...
Daan Crypto Trades speculates that the recent rise in LDO prices may be due to a potential recovery in the Ethereum market.
Furthermore, Daan Crypto Trades also highlighted the adoption and sophistication of the Lido DAO protocol, although the primary use of the LDO token is currently limited to governance functions.
This analyst predicts that if Lido DAO implements a revenue sharing scheme like the one proposed by Uniswap, LDO tokens could become much more valuable. However, according to him, this step may be difficult to implement given the current regulations.
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AUDIO and LDO Prospects: Optimistic!
Analysts generally have a bullish (optimistic) view of AUDIO and LDO. The recent price surge, combined with promising platform developments and technical patterns, makes these two tokens worth watching.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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