Daily Hodl Staff
Singapore-based exchange giant Crypto.com is adding two small-cap altcoins to its roster amid a market-wide slump.
First up is Lido DAO (LDO), the governance token of decentralized staking platform Lido Finance which offers staking solutions across several popular blockchains.
Lido’s decentralized autonomous organization (DAO) grants holders of the Ethereum (ETH)-based token voting rights on project parameters, upgrades and staking protocols.
Back in March, the Silicon Valley-based investment firm Andreessen Horowitz revealed it was backing Lido because the project democratizes the proof-of-stake process by both making minimum deposit amounts attainable to everyday crypto investors as well as offering an alternative to relying on centralized exchanges.
Crypto.com says that LDO will be available for purchase using a variety of fiat currencies.
At time of writing, Lido DAO is following the overall crypto market trend, down 11.29% and priced at $1.39.
The next altcoin to join the Crypto.com App is the blockchain transaction tracking protocol Parsiq (PRQ).
According to the announcement,
“PARSIQ is a next-generation platform for real-time monitoring of events across different blockchains, featuring analytics tools for blockchain technology across industries.
With PARSIQ, users can easily integrate blockchain infrastructures into existing business and workflows.”
Native token PRQ was built on the Ethereum blockchain and powers the project’s ecosystem. Holders can lend their tokens and earn passive income through staking in liquidity pools.
On Tuesday, PARSIQ was trading just below $0.17 but fell over 50% to $0.08 by early Thursday.
PRQ has since recovered by 12.5% and is currently trading for $0.09.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Monami Studio/Mingirov Yuriy
