Stride, the blockchain protocol based on the Cosmos network, has been quite successful recently. The protocol has held more than 80% of the market share within the Cosmos ecosystem and its governance token STRD has skyrocketed, soaring 330% since the start of the year. This outperformance of its competitors including Ethereum's native token ETH and Lido's LDO has been attributed to the launch of the protocol's Liquid Staking Module, enabling stakers to instantly liquid stake ATOM without any bonding periods. Additionally, the Total Value Locked in Stride has also gone up, with staked ATOM representing about 80% of them. Moreover, the recent Nansen report suggests that the token may be undervalued given its real yield revenues, transaction fees, and MEV, as well as potential future value capture mechanisms. In contrast, the overall crypto market has experienced a bearish trend, with BTC and ETH down 11.69% and 13.76% respectively. However, there have been some cases of outperformance by other Cosmos-based tokens such as CANTO, ASTRO, SOMM, DYDX, and INJ.



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