Lido token (LDO), the crypto token that power’s the decentralized autonomous organization (DAO) that powers liquid Ether staking protocol Lido, was last trading close to $2.15 per token.
The cryptocurrency has been moving gradually lower within the confines of a downward trend channel since hitting highs for the year in March in the $3.30 area.
Somewhat optimistically, LDO recently found solid support at its 200DMA just under $2.0, but the cryptocurrency will need to break out of its downward trend channel before the price outlook turns significantly stronger.
Still, with LDO up around 100% this year, investors are asking whether it is too late to buy the token.
LDO is still down more than 50% from its April 2022 highs above $5.0 per token, even though Ethereum implemented flexible staked ETH withdrawals earlier this year (boosting Lido’s use case and outlook).
That suggests that as the current crypto bull market matures, there remains plenty of room for upside.
However, while Lido’s LDO token could do very well in the coming months and years as the Ethereum ecosystem strengthens and ETH staking participation continues to rise, the big rally the token has already seen this year means that further upside potential is becoming more limited.
Here are a few altcoins that analysts at Business 2 Community think have better potential to produce large returns.
Launchpad XYZ (LPX)
Upstart crypto project Launchpad XYZ (LPX) is building a revolutionary, all-encompassing web3 platform that, according to the project’s Whitepaper, aims to make the highly “fractured and intimidating” web3 space more easily accessible.
Launchpad XYZ’s all-encompassing platform aims to offer users all the tools they need to analyze, trade and invest in NFTs, fractionalized assets, utility tokens, web3 presales via the platform’s decentralized exchange, peer-to-peer NFT exchange and trading terminal.
Crypto investors and traders are particularly excited about Launchpad XYZ due to its claim that it will provide the tools necessary to find the next 100x Web3 asset.
Indeed, Launchpad XYZ recently announced that analysis of presales will be integrated into its ecosystem, which it says provides users with “extra security… making your life much easier”.
Not only does Launchpad XYZ give its users the tools they need for trading and investing in the crypto world, but the platform also features an educational section to get newbies started.
Launchpad XYZ’s “Alpha” section of the platform will “help you learn what really has an impact on your ability to generate yield from Web3”, the platform says on its website.
Meanwhile, the project also has a newsletter aimed at providing “market-leading alpha” for more experienced traders and investors called Trading Edge, which can be signed up for via the project’s website.
To kick-start the development of its platform, Launchpad is running a presale of its $LPX token and the project has already raised a whopping more than $800,000.
Ecoterra (ECOTERRA) is the native cryptocurrency of a blockchain-run green ecosystem that incentivizes environmentally friendly behavior.
As outlined in the project’s Whitepaper, the award-winning project is building an all-in-one $ECOTERRA-powered web3 ecosystem, designed to encourage recycling via its first-of-its-kind Recycle-to-Earn (R2E) system, facilitate trade in recycled materials and encourage individuals and businesses to offset their carbon footprint.
The green web3 start-up’s R2E app is supported in any country that uses Reverse Vending Machines (RVMs), meaning a huge potential market.
Nascent green web3 projects like ecoterra are expected to play an increasingly important role in global efforts to address climate change in the decades ahead as crypto’s broader adoption increases.
It’s no wonder then that the crypto presale that ecoterra is currently running in order to fund the development of its platform has been a resounding success.
Ecoterra is in the fourth stage of its ECOTERRA token presale, with tokens currently priced at just $0.0085.
The project just passed the massive milestone of having raised over $4.5 million.
AGIX, the token that powers SingularityNET’s decentralized AI-focused crypto ecosystem, is trying to break above resistance in the $0.32 area, roughly in line with where its 50DMA resides.
But AGIX is looking technically strong thanks to its recent solid rebound from its 200DMA, now in the $0.26 area.
Amid all the hype about the potential that AI technology has to transform the world, AGIX is an incredible more than 600% up on the year.
And those gains could just be the start.
AGIX only has a market cap of currently around $390 million. If AI cryptos are going to be the next big thing, AGIX could easily 10, 20 or 30x to become a multi-billion dollar coin.
SingularityNET describes itself as a decentralized artificial intelligence (AI) marketplace that leverages the power of blockchain technology to provide unrestricted access to algorithms and applications.
Its main stated goal is to create Artificial General Intelligence (AGI) with far-reaching capabilities.
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