LDO Added to Grayscale’s Defi Fund
Hey there, fellow Lolacoin readers! We’ve got some news coming straight from Grayscale Investments, the digital asset manager. They just released their second-quarter 2023 update, and it’s got some good and bad news for you. Let’s break it down:
Key Points:
– Grayscale’s Digital Large Cap Fund and Smart Contract Fund haven’t made any changes in terms of added or removed tokens.
– However, in their update, Grayscale revealed that they’ve added Lido’s LDO token to their assortment of defi tokens in the Defi Fund.
– LDO now holds the second-largest weight in the fund’s portfolio, with uniswap (UNI) taking the top spot.
– Other tokens in the fund’s portfolio include AAVE, MKR, CRV, and SNX.
– LDO ranks as the 33rd largest cryptocurrency in terms of market capitalization.
Now, let’s talk numbers. On July 8, 2023, LDO saw a 2% increase against the U.S. dollar, but it’s been on a downward trend, losing over 10% in the past 30 days. Looking at the bigger picture, LDO is down 1% in the past six months and a whopping 73% lower than its all-time high in August 2021.
With the addition of LDO, Grayscale’s Defi Fund’s assets under management (AUM) now stand at $3,144,411 as of July 7.
Hot Take:
The inclusion of LDO in Grayscale’s Defi Fund is a bold move. While LDO has seen recent losses, it’s still a significant player in the crypto market. This shows Grayscale’s confidence in the potential of defi tokens. Keep an eye on how this decision pays off in the long run.
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