Cardano, Solana, Lido Rallies 30-80% In Hours

The first weekend of 2023 was action-packed. Bitcoin broke above the $17k mark and Altcoins rallied alongside. In fact, the investors of a few coins managed to pocket double-digit gains in merely hours. In this article, we will be analyzing three top gainers of the day: Cardano, Solana, and Lido DAO.

Cardano [ADA]

Unlike most cryptos, Cardano kickstarted 2023 on the right note. As highlighted in an article last week, most of its fundamentals have been aligned. As a result, the much-awaited, pending rally materialized during the weekend.

The eight ranked crypto registered back-to-back green candles on its short timeframe charts on Sunday and early Monday. Retrospectively, investors’ RoI rose by around 26%. The RSI of ADA reached 92 a few hours back, and as anticipated, the overheated landscape paved the path for a pullback. From the high of $0.3460 registered, ADA was trading at $0.33 at press time.

Also Read: 4 Positive Takeaways For Cardano So Far In 2023

Solana [SOL]

Over the past few hours, SOL’s price inclined by roughly 29%. As highlighted below, its uptick during the initial stage was restricted by bears, and a red candle was formed on the 4-hour chart. Nevertheless, it was just a matter of time until bulls regained command and pushed the asset’s price up to $17.02.

At press time, the asset was undergoing a correction and was seen exchanging hands at $16.17.

Also Read: Ethereum Founder Rekindles Revival Hope for Solana

Lido DAO [LDO]

The price of Lido Dao’s native token momentarily touched $2.64 by registering a long wick during the early hours of Monday. As a result, LDO registered a whopping 78% uptick in a short period of time.

This Altcoin has consistently managed to bag a position for itself in the top gainers’ list lately. The same happened last week when the aggregate funds locked on the protocol claimed $5.98 billion and overtook Maker to become the project with the highest individual TVL in the DeFi ecosystem.

Unlike Cardano and Solana, Lido’s retracement was evident in the form of red candles on its charts. The pull-back to $1.9 at press time shrunk the gains made by investors to 30.8%.