Ethereum has attracted the attention of investors along with increasing institutional interest. While eyes turn to May, two ERC-20 based altcoin It has remarkable qualities for ascension.
In May, when capital inflows are expected to increase, Lido DAO (LDO) and Uniswap (UNI) attract attention. Both tokens have shown significant potential and are leading innovation in the Ethereum ecosystem
Lido DAO (LDO)
with DeFi protocol Lido DAOreaches a milestone with one million Ethereum validators reached. The platform holds a significant share of 28.5% of all staked Ethereum. This detail is supported by the adoption of liquid staking protocols, which are experiencing rapid expansion due to their liquidity advantages. Unlike staking transactions where ETH remains locked, Lido is actively used by users in other DeFi protocols. Thus, it allows you to buy Lido Staked ETH (stETH), which increases liquidity.
1 million validators pic.twitter.com/fELATWQPIu
NEWS CONTINUES BELOW— Lido (@LidoFinance) April 29, 2024
Lido altcoin leads the pack with total locked value of over $29.9 billion, significantly more than its competitors. It is challenging the $2,175 resistance level due to recent price fluctuations. On the other hand, the price is showing signs of stability around $2.10.
Uniswap Winks at the Altcoin Market
Pioneer of the automatic market maker model for decentralized exchanges Uniswap. On the other hand, it has the highest exchange volume in the DeFi field. Governance altcoin UNI’s $5.38 billion market cap and 1.07 MCap/TVL ratio suggest that UNI is trading at a fair price relative to the total value locked in its ecosystem.
As Koinfinans.com reported, Uniswap continues to lead the largest on-chain trading platform in the layer-1 blockchain. According to data from DefiLlama, Uniswap has achieved over $2 trillion in cumulative trading volume across 17 chains, with users depositing more than $5.5 billion in total value, signaling strong activity and trust in its platform.
