Cardano ($ADA) and Lido DAO ($LDO) Could Soon Rally, Crypto Analyst Predicts

A popular cryptocurrency analyst has predicted that the prices of both Cardano ($ADA) and Lido DAO’s governance token $LDO could soon rally based on two upcoming hard forks, including Ethereum’s Merge upgrade.

The host of Coin Bureau, as Daily Hodl reports, has shared a new video with his 2.1 million YouTube subscribers detailing that he sees Cardano’s price rise about 20% to hit the $0.60 mark in the near future ahead of the network’s upcoming Vasil hard fork.

The Vasil hard fork is expected to deliver a “massive performance improvement” to the network. It’s a major upgrade that will involve several Cardano Improvement Proposals (CIPs). 

https://youtube.com/watch?v=95tJuaWhE6g%3Ffeature%3Doembed

To the host of Coin Bureau, the price of ADA is rallying over anticipation associated with the hard fork, and he is looking for a short-term movement up until the $0.60 mark “to get back into that medium-trend uptrend.” Given the renewed interest in Cardano, he said, reaching that target is “more likely than not.”

As reported, Cardano’s market cap has surged to $17 billion ahead of the network’s highly-anticipated Vasil hard fork. The cryptocurrency community is expecting the price of Cardano’s ADA to surge around 35% during the month of September, with data showing 14,000 users see the cryptocurrency trade at $0.62 by the end of the month.

The host of Coin Bureau has also looked at another cryptocurrency that could benefit from an upcoming hard fork: Lido DAO ($LDO), a liquid staking protocol that allows users to deposit assets to be staked and receive a token backed 1:! By the staked assets in return.

Per the analyst, Lido DAO’s governance token could rise by 50% over Ethereum’s upcoming Merge upgrade, as it’s “used to stake ETH in a liquid i.e, tradable manner.” The protocol also recently “partnered with Aztec Network for low-fee liquid staking and additional privacy on Ethereum, solid stuff.”

Lido DAO is, at the time of writing, trading at around $1.8 after losing nearly 17% of its value in the last 24-hour period, amid a wider cryptocurrency market downturn that has seen BTC drop by nearly 8% during the same period.

Coin Bureau has notably recently said he expects Cardano to start outperforming the flagship cryptocurrency Bitcoin ($BTC) as traders start using the cryptocurrency to hedge against Ethereum’s transition from a Proof-of-Work (PoW) consensus algorithm to a Proof-of-Stake (PoS) one.

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