Altcoin Investing Pick: the next Lido
Hey everyone,
it’s Pick Day!
Every Saturday, you get deep dives on quality Altcoin projects that have numerous growth potential included in our watchlist.
Let’s dive in!
Staking is the process of locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network.
However, once a user stakes their tokens, they are often locked and become illiquid, meaning they can't be easily accessed or sold.
Liquid staking aims to solve this problem by providing stakers with a tokenized representation of their staked assets. This token can be traded, used as collateral, or otherwise utilized in the DeFi ecosystem, making the staked assets "liquid."
In fact, LSD protocols as a category has surpassed lending, bridges and decentralized exchanges (DEXs) in total value locked (TVL), to take the top position at around $31.6 billion.
Here lies the opportunity of today’s pick.
In particular, our next pick aims to provide a simple and secure platform for users to earn yield on their cryptocurrency holdings.
The protocol is designed to be interoperable with multiple DeFi protocols, allowing users to trade across different platforms.
Lido DAO (LDO), the Top Liquid Staking Governance Token by Market Cap ($2B), has grown by 280% in total value locked (TVL) in 2023, while our pick by 1600%.
Now let’s tell you which project we are talking about and share the full investment case with you: