The music streaming platform Audius (AUDIO) has seen its native token spike by 70% over the past two days. This price surge came shortly after Audius announced a significant development – artists can now sell their albums directly on the platform.
In a tweet, Audius stated, “We’re excited to announce that artists can now sell their albums on Audius. If you’ve already been granted access to our premium sales waitlist, you’ll now also have the option to sell your albums too. The power is in your hands. Create your album, set your price, and unlock the earnings you deserve.”
Symmetrical Triangle Pattern
Adding fuel to the bullish momentum, the analyst known as “World Of Charts” highlighted a promising technical formation on AUDIO’s chart. According to their analysis, AUDIO has formed a symmetrical triangle pattern, and a breakout from this pattern could potentially lead to a 400% price spike.
Lido DAO Surges on Ethereum ETF Approval
Lido DAO (LDO), a liquid staking protocol for Ethereum, has also experienced a 6% price increase today. However, this upward movement appears to be driven by a different catalyst – the recent approval of an Ethereum-based exchange-traded fund (ETF).
Read Also: How a Crypto Trader Made $65M in Just One Year with PEPE Meme Coin and These Two Tokens
Analyst Insights Daan Crypto Trades provided insights into the LDO token’s performance. While acknowledging that LDO was once considered a “dead” coin, Daan Crypto Trades noted that its price movement typically follows the trajectories of Ethereum (ETH) and Bitcoin (BTC). The analyst suggested that LDO’s recent price surge could be attributed to the potential for relief in the Ethereum market.
Additionally, Daan Crypto Trades highlighted the adoption and brilliance of the Lido DAO protocol, despite the token’s primary use being limited to governance purposes. The analyst speculated that if Lido DAO were to implement a fee switch similar to Uniswap’s proposal, the LDO token could become significantly more valuable, although such a move is unlikely in the current regulatory environment.
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Show more +LDO Short and Medium-term Outlook
Another analyst, NIGHTEYE, expressed a bullish outlook on LDO, stating their intention to buy the token for a short to medium-term hold. According to NIGHTEYE, the current price level represents a buying opportunity, with targets set at $2.4, $2.7, $3, and $3.3.
Both Audius and Lido DAO have captured the attention of investors and analysts alike, each for its unique developments and promising technical patterns.
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