Here are 10 important points from the recent Nansen report on Stride and its market performance:
1. Stride, a protocol in the Cosmos ecosystem, holds over 80% of the market share within its ecosystem.
2. Despite a bearish market trend, Stride's governance token (STRD) has seen an impressive 330% year-to-date increase in price performance.
3. STRD has outperformed Ethereum (ETH) and Lido's native token (LDO) in year-to-date price performance.
4. Lido, a leader in the Liquid Staking Derivatives (LSD) space, is a competitor to Stride.
5. STRD has a market capitalization of approximately $72.29 million.
6. The Fully Diluted Valuation (FDV) of STRD stands at $82.58 million, resulting in a low FDV/TVL ratio of just 2.1.
7. Nansen's analysis suggests that STRD may be undervalued, considering factors like real yield revenues for STRD stakers and new value capture mechanisms through transaction fees and MEV.
8. Near-term catalysts are expected to increase Stride's addressable market to untapped markets worth billions.
9. The surge in STRD's price can be attributed to the recently launched Liquid Staking Module, allowing instant liquid-staking of ATOM without bonding periods.
10. The total value locked (TVL) in Stride has experienced substantial growth, currently standing at $36.94 million, with staked ATOM accounting for nearly 80% of these tokens.
1. Stride, a protocol in the Cosmos ecosystem, holds over 80% of the market share within its ecosystem.
2. Despite a bearish market trend, Stride's governance token (STRD) has seen an impressive 330% year-to-date increase in price performance.
3. STRD has outperformed Ethereum (ETH) and Lido's native token (LDO) in year-to-date price performance.
4. Lido, a leader in the Liquid Staking Derivatives (LSD) space, is a competitor to Stride.
5. STRD has a market capitalization of approximately $72.29 million.
6. The Fully Diluted Valuation (FDV) of STRD stands at $82.58 million, resulting in a low FDV/TVL ratio of just 2.1.
7. Nansen's analysis suggests that STRD may be undervalued, considering factors like real yield revenues for STRD stakers and new value capture mechanisms through transaction fees and MEV.
8. Near-term catalysts are expected to increase Stride's addressable market to untapped markets worth billions.
9. The surge in STRD's price can be attributed to the recently launched Liquid Staking Module, allowing instant liquid-staking of ATOM without bonding periods.
10. The total value locked (TVL) in Stride has experienced substantial growth, currently standing at $36.94 million, with staked ATOM accounting for nearly 80% of these tokens.