According to venture capitalist Arthur Cheong, a decentralized finance altcoin is laying the groundwork for significant growth. DeFiance Capital founder Cheong announced to his Twitter followers that the crypto staking solution Lido (LDO) is currently undervalued and has great growth potential.
DeFiance founder Arthur Cheong stated that the liquid staking market has seen significant revenue and has attracted investors due to a lack of volatility. He also emphasized that the project has great development potential, stating:
The liquid staking market has grown alongside the value of the chains that protocols serve. Staking protocols on the top five smart contract chains generate over $800 million in annual revenue. Additionally, the sector is superior to other decentralized finance (DeFi) sectors in terms of earnings quality, thanks to its recurring and non-volatile structures.
Founder Arthur believes that Lido is well-positioned to benefit from the growth of the staking market due to its strong technology and proven reliability. He said:
Lido is ready to capture the industry’s growth due to its strong network effect built around ETH and its inclusion of decentralized validator technology using the SSV and Obol networks.
Lido Expects Tripled Revenue!
Additionally, due to various factors including the increasing market value of Ethereum (ETH), Lido could see a threefold increase in revenue in the medium term. He concluded his remarks as follows:
Lido’s value is being kept low because we see a potential threefold opportunity in its revenue in the medium term. 1) Increasing market value of Ether. 2) Rising Ethereum staking rate after Shanghai. 3) Growing market share of decentralized liquid staking protocols. 4) Continued dominance of Lido.
As of writing, Lido is trading at $1.85, down 0.8% in the last 24 hours.
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