Three Ethereum altcoin projects explode by 54% or more in just 24 hours as bitcoin and crypto markets explode
A trio of digital assets are leading the charge as cryptocurrency markets rebound from a tough trading week, with total market cap up more than 10% in one day.
First up is Optimism (OP), a Layer 2 Ethereum (ETH) scaling solution that aims to reward participants for contributions to the Ethereum network.
Native Token OP was introduced on May 31st and is used for managing and allocating network resources.
Optimism is up in the last 24 hours, currently up 75% and is valued at $1.50.
Lido DAO (LDO), a native token from decentralized staking platform Lido Finance, which has received backing from Silicon Valley-based investment firm Andreessen Horowitz, is also climbing the price charts.
Lido DAO is designed to build liquid staking services for different blockchains. It allows participants to earn staking rewards without locking assets or maintaining staking infrastructure. LDO can be used for collateral, lending, stakes and yield farming.
Lido Finance traded at $1.30 just two days ago but has been working its way up in multiple breakouts. LDO is up 58% today and is trading at $2.47.
The final altcoin on the rally train is Trustless Automated Market Maker (AMM) and cross-chain Bridge Synapse (SYN).
Native Asset SYN is an Ethereum token that grants holders voting rights within the protocol and rewards liquidity providers.
According to the project website, Synapse aims to remove “interoperability barriers” that complicate both the user experience and the app development process.
Synapse also posted modest gains this week before surging 54% this morning. SYN traded at $0.92 on Tuesday but is currently changing hands at $1.81.
Amid the broader crypto market rally, traders have also seen the leading digital asset Bitcoin (BTC) break the psychological resistance level of $23,000 once again.
BTC is currently up 9.91% in the last 24 hours and is trading at $23,810.
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