The popular pseudonym DonAlt, who managed to predict the bottom of the market almost exactly in November 2022, now tips two relatively large altcoins. In a new strategy session, DonAlt shared with his 50,000+ followers that he currently has confidence in Lido DAO (LDO) and Litecoin (LTC).
What is Lido DAO?
LDO is the token associated with Lido Finance’s staking service. That is a platform on which you can stake Ethereum in the Proof-of-Stake contract, for example. In principle, they take everything off your hands and you only have to pay a small fee to arrange that.
You therefore receive slightly less income on your Ethers, but that means that you do not have to worry about it. Lido is currently the largest decentralized staking service in the world and the largest in Ethereum by far.
The protocol currently manages billions of dollars worth of Ethereum for its clients. “Lido has been very interesting lately. (…) if you are bullish on altcoins, that is definitely a good one to keep an eye on,” said the optimistic DonAlt.
At the time of writing, LDO is down 3.89 percent for the past 24 hours. That yields a rate of $2.05. Last week, the project was still trading at $2.48. In that regard, there is a lot to gain back for the altcoin.
Time for Litecoin
Then it’s time for Litecoin, because Bitcoin’s little brother also looks good at the moment, according to DonAlt. Despite the rest of the market struggling, Litecoin seems interesting as the halving of the project is fast approaching.
At the time of writing, it is still just under 80 days to wait until the reward for Litecoin miners is halved. In fact, that cuts Litecoin’s inflation rate by half.
“The halving is now about two to three months away. That’s great, because you certainly don’t want to have any Litecoin a month before the halving. Which means you now have about 50 days to get everything done,” said DonAlt.
Currently, Litecoin is trading at $90.92 and for the past week, the project is up a very decent 6.41 percent. That brings Litecoin’s market cap to $6.63 billion. In that respect, Litecoin is really Bitcoin’s little brother.
