- Three popular altcoins are leading the way, as cryptocurrency markets rebound from a rough trading week with overall market cap rising more than 10 percent in one day.
The first of the altcoins leading the rise is an Ethereum (ETH) layer-2 scaling solution that aims to reward contributors to the Ethereum network. Optimism (OP) it happened.
Launched on May 31 and used for the management and allocation of network resources, the platform’s native cryptocurrency OP has risen 75 percent in the last 24 hours and is trading at $1.50 at the time of writing.
Lido DAO (LDO)
It is also the native token of Lido Finance, a decentralized staking platform backed by Silicon Valley-based investment firm Andreessen Horowitz. Lido DAO (LDO) also rose on the price charts and delighted its investors.
Koinfinans.com As we reported, Lido DAO, designed to create liquidity staking services for different blockchains, allows you to obtain freely tradable stETH for every ETH staked and prevent coins from being locked. That is, it allows participants to earn betting rewards without locking assets or maintaining a staking infrastructure. Thanks to this feature, Lido DAO has been able to attract quite a large amount of investors, if this number continues to increase, the protocol is expected to have a big impact on the Ethereum network.
The LDO, the governance token of the Lido DAO, gives owners voting rights, can be used for collateral, lending, yield farming, and is constantly increasing in value for the reasons outlined above.
Lido Finance, which was traded at $ 1.30 just two days ago, made the headlines as a result of several price explosions. LDO is up 58 percent today and is trading at $2.47 at the time of writing.
Synapse (SYN)
The last altcoin to lead the market, trustless (you don’t need to rely on any outsider, institution or other third party for a network or payment system to work) is Synapse (SYN), an automated market maker (AMM) and cross-chain bridge.
The native asset of the platform, SYN, is an Ethereum token that gives its holders voting rights within the protocol and rewards liquidity providers.
On the project’s website, Synapse claims to be a platform that aims to solve “interoperability barriers” that complicate both the user experience and the application development process.
Synapse has also witnessed modest gains this week before experiencing a 54 percent vertical jump this morning. SYN, which traded at $0.92 on Tuesday, is currently trading at $1.81.
Amid the wider crypto market rally, traders witnessed the leading digital asset Bitcoin (BTC) once again shatter the $23,000 psychological resistance level. BTC is at $23,810 at the time of writing, up 9.91% in the last 24 hours.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.