Crypto news: Galeon, Lido and Cardano

Crypto news: what are the current prices and future forecasts of the Galeon, Lido (LDO) and Cardano (ADA) coins?

See below for an in-depth discussion on this issue.

Focus on the price of Galeon, how is it performing compared to crypto assets Lido and Cardano?

According to CoinGecko data, the current price of Galeon (GALEON) is $0.01381767, with a trading volume of $118,705.00 in the past 24 hours. This indicates a decrease in price of -0.92% over the last 24 hours and a further decrease in price of -1.29% over the last 7 days.

We also note that there is currently no data available on Galeon’s market capitalization as the circulating supply of GALEON tokens has not been disclosed.

Galeon’s (GALEON) daily volume over the past 24 hours is $118,705, representing a 2.80% increase from a day ago and indicating recent growth in market activity.

With a -1.30% decline in the defined price over the past 7 days, we note that Galeon is underperforming compared to the global cryptocurrency market, which is up 0.30%.

It is also underperforming against similar currencies in the BNB Chain Ecosystem, which are up 1.00%. However, the community is optimistic, with over 100% of users expressing positive sentiment toward the currency.

Lido (LDO): amid updates and price trends

Recently, the cryptocurrency market has experienced a return of volatility, indicating healthy movement in the decentralized finance (DeFi) sector.

In this regard, Lido Finance (LDO) published its latest weekly update, which highlighted some correlations with this increased volatility.

According to Lido’s latest update, the platform positioned itself as the leading staking provider for net new ETH deposits on the Ethereum beacon chain during the past week.

As a result, the increase in deposits testifies to the platform’s continued growth. The weekly report also revealed a 12.72% increase in Lido’s Total Value Locked (TVL) from 19 June to 26 June.

Although Lido’s TVL opened June with some fluctuation, it corrected itself in the second half of the month, recently peaking at $14.18 billion.

But where does this growth come from? According to another Lido update, most of the ETH in staking comes from Ethereum’s Level 2 networks.

Since liquid staking generates wstETH, observing the growth of this token can provide insight into the platforms that contribute the most to the volume of ETH in staking.

Until this year, LDO has been tracking the market in a parallel manner. It has shown a bearish performance since the beginning of June and reached its lowest point at $1.62 in the middle of the month, the same low it reached in May.

At the time of writing, it is priced at around $1.96, having recovered well in the middle of the month. Once again, LDO’s latest rise in value reflected the overall market trend.

Concerns within the Cardano community: what is going on?

Recent discussions within the Cardano community (ADA) have focused attention on the possibility of a massive sale of Cardano’s coin ADA by major platforms such as Robinhood and Celsius.

Although these platforms have different motivations for their actions, the possibility of a significant “dump” has caused concern in the community. In addition, enthusiasts and experts have differing opinions on the situation.

Indeed, some argue that such a sale would not be extraordinary for the Cardano token, downplaying negative speculations such as fear, uncertainty, and doubt.

Their rationale is based on the fact that the total holdings of Robinhood and Celsius represent only a small fraction of the total ADA trading volume and that users have had enough time to move their ADA to other portfolios.

These enthusiasts believe that the event has already been incorporated into the market and that the surrounding negative sentiment is more influential than the actual sales.

However, others remain skeptical about the situation. They point out that Robinhood has set a deadline of 27 June, after which all remaining ADA will be sold at market price.

Jump Crypto, the entity responsible for managing cryptocurrencies for Robinhood, will be forced to liquidate the remaining holdings immediately.