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"Pentoshi Predicts 'Violent' Rallies for LDO, ONDO Amid Upcoming Catalysts"

Coin WorldMonday, Jan 27, 2025 9:36 pm ET

1min read

Crypto strategist and trader Pentoshi has predicted "violent" rallies for two Ethereum-based altcoins, Lido DAO (LDO) and Ondo Finance (ONDO), citing upcoming catalysts that could drive their prices higher.

Pentoshi, who has 847,800 followers on the social media platform X, believes that LDO, an automated staking service on the Ethereum blockchain, is poised for a significant price increase. He expects traders to enter long positions on LDO as speculation grows that US regulators will approve the staking of ETH held in spot Ethereum exchange-traded funds (ETFs).

According to Pentoshi, LDO's price has already begun to appreciate rapidly and is starting to price in the potential approval of ETH staking. He has set a target price of $3.612 for LDO, which is currently trading at $1.95.

Another altcoin on Pentoshi's radar is ONDO, a decentralized finance (DeFi) protocol that aims to tokenize real-world assets (RWAs). He expects the upcoming ONDO Summit 2025, scheduled for February 6th, to fuel short-term rallies for the crypto asset. Pentoshi believes that the presence of BlackRock's chief investment officer at the event could lead to increased speculation and a potential price increase for ONDO.

Pentoshi also mentioned that he plans to sell his ONDO stack just before the event, suggesting that he expects a sell-off following the summit. At the time of writing, ONDO is trading at $1.29.

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