Grayscale DeFi Debut: Will Optimism & Lido DAO Continue Rising?

What Does Grayscale Bold Move to OP & Lido DAO Mean for Investors?

Grayscale Expands into DeFi with New Optimism and Lido DAO Trusts, Sparkling Price Surge

Grayscale Investments is paving a new DeFi path for investors by adding Optimism (OP) and Lido DAO (LDO) to its suite of Trust products. This strategic move targets both the Ethereum Layer 2 scaling solutions and the staking sectors, thereby broadening Grayscale’s market reach. The latest Grayscale announcement has garnered significant attention in the crypto sphere.

Pathway to ETFs?

Owned by Digital Currency Group (DCG), Grayscale has been a frontrunner in crypto trusts and ETF products. The new Optimism and Lido DAO Trusts offer accredited investors - those with a $1 million net worth or a household income of $300,000 - the opportunity to gain direct exposure to OP and LDO tokens.

• Optimism (OP): Falls under Grayscale’s Smart Contract Platforms sector, enhancing Ethereum’s DeFi and smart contract capabilities. Optimism coin has been pivotal in improving scalability and reducing transaction costs for Ethereum.

• Lido DAO (LDO): Categorized within the Financials Crypto Sector, focusing on staking solutions. The Lido DAO token facilitates liquid staking, providing flexibility for stakers.

These additions follow recent private placements for XRP, Solana (SOL), Stellar (XLM), and a Decentralized AI Fund. Grayscale is also expanding its ETF offerings, recently filing for a Solana ETF and seeking to convert its Digital Large Fund Cap into a full-fledged Exchange-Traded Fund, as noted in the US SEC’s Federal Register. The optimism coin news and lido dao news further reflect the company’s dynamic approach to the DeFi sector.

Market Reaction: OP and LDO Soar

The announcement triggered a significant uptick in prices:

• Optimism (OP): Surged by around 4.39% from the past 24 hours, currently priced around $2.65. Within the last 24 hours, Optimism achieved a trading volume of $734.85 million, marking a substantial 91.71% increase. The optimism coin price is now outperforming other Ethereum Layer 2 projects.

• Lido DAO (LDO): Skyrocketed around 13.74% from the past 24 hours with the price standing around $2.27. Within the last 24 hours, Lido DAO achieved a trading volume of $622.37 million, marking a substantial 190.26% increase. The lido dao crypto has emerged as a leading player in staking solutions.

Although the rally aligns with a bullish market trend, both tokens are notably outperforming their peers in their respective niches.

Grayscale’s Outlook

Grayscale remains optimistic but cautions investors that the core functions of Optimism and Lido DAO may face challenges. Nonetheless, this latest expansion underscores Grayscale’s commitment to diversifying its crypto investment products and solidifying its presence in the evolving DeFi landscape. The grayscale latest news highlights its ongoing innovation in the crypto investment space.