Lido DAO Voting on Proposed 10 million LDO Token Sale to Dragonfly Capital

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Today’s Cryptocurrency Headline

Lido DAO, the decentralized governance body of Lido Finance, has opened a vote and plans to sell 2% of the total LDO (20 million LDO) at the price of $1.45. According to the proposal, Dragonfly Capital will lead the investment and purchase 10 million LDOs. The sold LDOs will be unlocked immediately with full voting rights.  According to data from CoinMarketCap, the protocol’s native token, LDO, is currently trading at around $1.64.

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According to Glassnode, the number of addresses holding more than 0.1 bitcoin hit 3,733,500, an all-time high. Bitcoin is down 1.72% over the last 24 hours and fell to an intraday low of $21,987.00. The largest cryptocurrency dropped below the 50-day simple moving average (SMA) ($22,203) on July 21, but the bulls were unable to push the price above this key level in the following days. The gradually rising 20-day exponential moving average (EMA) ($21,849) and the relative strength index (RSI) in the positive territory indicate an advantage to buyers. If bulls sustain the price above the 50-day SMA, the BTC/USDT pair could rally to the overhead resistance zone between $23,000 and $24,000.

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