Lido Staked Ether's Price Increased More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Lido Staked Ether (STETH) has seen a 4.63% price increase over the past 24 hours, reaching $2,041.61, despite a 3.0% decline over the past week. The coin's all-time high is $4,829.57. Trading volume has decreased by 7.0%, while circulating supply rose 0.1% to 8.99 million, which is the max supply. STETH's market cap ranks it at #8 with $18.27 billion.
November 20, 2023 | 3:01 pm
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Lido Staked Ether (STETH) experienced a 4.63% price increase over the last 24 hours, countering its weekly downward trend. The trading volume has decreased, but the circulating supply is now at its maximum.
The price increase of STETHUSD over the past 24 hours is significant, indicating a potential short-term bullish sentiment among investors. However, the decrease in trading volume could suggest less market activity, which might dampen the impact of the price rise. The fact that the circulating supply has reached its maximum could also have varying effects; on one hand, it might imply a scarcity that could drive prices up, but on the other hand, it could also mean that there is no more room for growth in supply, which could limit the potential for price increases.
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