Crypto strategist Pentoshi has ignited interest among traders, forecasting notable price increases for two cryptocurrencies, Lido DAO (LDO) and Ondo Finance (ONDO). Addressing his 847,800 followers on social media platform X, he emphasized that LDO is poised for a major price shift, driven by developments in the Ethereum ecosystem.
What Drives LDO’s Price Potential?
Pentoshi believes that LDO will capture the attention of traders seeking long positions, particularly if U.S. regulators grant approval for ETH staking in spot Ethereum exchange-traded funds (ETFs). This regulatory news could create a favorable environment for LDO’s price surge.
Pentoshi remarked, “With applications rolling in, LDO may see significant price adjustments. If you trust that ETH staking will be accepted, then LDO could be a solid choice. The price momentum is accelerating, indicating this possibility.”
Will the ONDO Summit Boost Prices?
Pentoshi also drew attention to ONDO, a DeFi platform focused on real-world asset tokenization. He noted that the upcoming ONDO Summit on February 6, 2025, could trigger a temporary price increase, particularly given the involvement of influential figures like BlackRock’s chief investment officer.
He stated, “The ONDO summit is approaching quickly. With prominent speakers present, speculation could drive prices up ahead of the event, followed by a potential sell-off based on outcomes. It may represent a lucrative short-term opportunity.”
Pentoshi intends to divest his ONDO holdings just prior to the event, aiming to profit from expected price shifts. Currently, LDO is listed at $1.95, and ONDO is priced at $1.29.
– LDO and ONDO may witness significant price movements influenced by regulatory changes and scheduled events.
– Traders are advised to monitor market developments closely to optimize strategies.
– The inherent volatility of cryptocurrency markets demands rigorous research and prudent decision-making.
Observing market trends and critical events can greatly assist in making informed investment choices. Recognizing the implications of regulatory decisions and major gatherings is especially vital for traders navigating this dynamic sector.
