Top Liquid Staking Crypto Tokens to Watch out for in 2023

Introduction 

Staking has been widely popular amongst crypto holders- here, users lock their cryptos to strengthen the security of Proof of Stake blockchains, and they receive some rewards in return. However, these locking periods can range from a few days to weeks- presenting challenges for the liquidity and capital utility of users’ cryptos. 

Liquidity Staking is a solution to this providing holders a way to contribute their cryptos and receive a liquid token as evidence of their staked amount of specific assets on the network. In this article, we will explore the top liquid staking coins you should check out in 2023.

Lido DAO (LDO)

Lido Finance is a decentralized crypto liquidity staking protocol for Proof of Stake blockchains like Ethereum, Solana, Polkadot, etc. It was launched in 2020 and enables users to stake any amount, even fractions of crypto assets, in its staking pools to earn block rewards. Lido does not lock users’ staked assets instead, when someone deposits assets in Lido’s pools, the protocol provides them with a tokenized version of staked assets in a 1:1 ratio. These tokenized assets can be transferred and utilized across various DeFi protocols within the blockchain’s ecosystem, and when you wish to retrieve your staked assets, you can simply exchange them with tokenized assets. This feature of Lido lifts the entry barrier to crypto staking, granting users with both liquidity and control over their funds while still participating in staking and earning rewards. 

Latest News

• Lido DAO has collaborated with Pyth Network to offer more accessibility and liquidity for staked ETH products in real time to over 20 blockchains.

Exciting news ⚡️

Lido & @PythNetwork collab to bring real-time, permissionless stETH price feeds to 20+ blockchains.

This collaboration boosts accessibility & liquidity for stETH-backed products, igniting DeFi innovation & attracting users seeking exposure to stETH. https://t.co/gQasoU6gw9

— Lido (@LidoFinance) June 29, 2023

LDO Price Prediction

• LDO price today is trading at $1.88, with a 24-hour trading volume of $28 million. The LDO price has gained around 2.8% during the last 24 hours, with its market cap standing at $2 billion as on June 30, 2023.
• LDO price has performed greatly in the beginning of the year, recovering more than 240% of its price within 2 months.
• The current market sentiment of LDO price seems bullish, as it has risen above its 50-day moving average and if LDO price sustains, it might soon reach $2.40.

Rocket Pool (RPL)

Rocket Pool is a staking protocol for the Ethereum blockchain, it opens staking opportunities for users with its decentralized network of operator nodes and withdraws tokens anytime. Unlike individual stakers who deposit 32 ETH to set an operator node in the Ethereum network, Rocket’s protocol enables users to become a node operator with as minimum as 16 ETH. These deposited ETH are collected together with other stakers to create a new validator node minipool, which then runs on Ethereum. The platform’s execution operates decentralized through smart contracts, which automatically handle the creation, withdrawal, and reward distribution of the Rocket pool. RPL token is the native token of the Rocket Pool governance community with the purpose to spread the platform’s understanding to Ethereum users and to incentivize network participants.

Latest News

• Prisma Finance, Davos protocol, and Raft have integrated in Rocket Pool’s rETH liquidity token this month, to make staking more efficient and available to new users.

🔥 Breaking News:@Rocket_Pool‘s $rETH Integrating with Raft 🚀

🧵 pic.twitter.com/TCOuFcYltG

— Raft (@raft_fi) June 27, 2023

RPL Price Prediction 

• RPL price today is trading at $37.25, with a 24-hour trading volume of $4 million. The RPL price has gained around 1.65% during the last 24 hours, with its market cap standing at $725 million as on June 30, 2023.
• RPL price recently had a breakdown from a consolidated range of $44.3-$52 nearly after two months.
• The below 40 RSI level indicates a bearish market sentiment. If the RPL price sustains above the resistance level at $34, it might rise up. 

Frax Share (FXS)

Frax Share is a native utility token of the Frax Finance ecosystem and is used for governance purposes such as defining the platform’s fees, rate of collateral ratio, etc. Frax Finance offers various financial services, including liquidity staking for the Ethereum blockchain. Similar to previously discussed projects, Frax also lets users stake any amount of ETH tokens and withdraw them as they wish at any time. 

When a user deposits ETH in Frax protocol, a smart contract function mints a liquid derivative Frax Ether (frxETH) at the same amount as ETH you staked. The submitted ETH are combined together in a new Ethereum validator node to earn staking rewards and to receive their share of the staking yield generated by Frax ETH validators, users need to exchange their frxETH for sfrxETH (Staked Frax Ether).

Latest News

• Frax Finance has recently introduced three new liquidity staking farms for tokens frxETH and FRAX on the Arbitrum Decentralised Exchange.

🟢New Infinity @fraxfinance Farms are LIVE!!

💰Introducing $frxETH on #Arbitrum, 3 farms and 3 rewards!! Don’t miss out on the juicy yield!!

1) frxETH/FRAX🔥
2) FRAX/WETH🔥
3) frxETH/WETH🔥

Get $FRAX & $frxETH and Start Earning Now▶️https://t.co/aDCoUIYv9C pic.twitter.com/IxdhSZuBg2

— Arbitrum Exchange (@ArbidexFi) June 28, 2023

FXS Price Prediction

• FXS price today is trading at $5.45, with a 24-hour trading volume of $10 million. The FXS price has dropped around 0.44% during the last 24 hours, with its market cap standing at $395 million as on June 30, 2023.
• FXS price has formed a death crossover of 200 days and 50 days moving averages at the beginning of June.
• If FXS price maintains to break through its downtrend, it might possibly reach $7.5 soon.

Additional Read: Top Layer 2 Crypto Projects

Ankr (ANKR)

Ankr is another liquid staking protocol built over the Ethereum blockchain with the objective to boost the growth and development of Web 3.0 through its decentralized network of node operators, which work alongside Ankr nodes. The platform offers users staking services for six tokens, including ETH, MATIC, BNB, FTM, AVAX, and BNB, where they receive an equivalent amount of liquid staking tokens (such as ankrETH, ankrMATIC, etc.) for each staked token. These liquid staking tokens are portable, that is, they can be transferred across DeFi platforms to earn rewards or exchanged for other assets. ANKR is the native utility token used for staking, transactions, payment fees, and governance to shape the future of the Ankr platform.

Latest News

• Ankr has launched its AppChains on the Ethereum network, eliminating entry barriers and scalability challenges for enterprises and enabling them to build applications on it.

🔵 Introducing: AppChains on Ethereum

🔗: https://t.co/VbL6AC3Ojw pic.twitter.com/YfGmkMw6fW

— Ankr (@ankr) June 27, 2023

Read More: Top Web 3.0 Tokens

ANKR Price Prediction 

• ANKR price today is trading at $0.023, with a 24-hour trading volume of $15 million. The ANKR price has gained around 0.23% during the last 24 hours, with its market cap standing at $223 million as on June 30, 2023.
• ANKR price has also made a death crossover of 200MA and 50MA, indicating a bearish market for upcoming times.
• However, if ANKR price rises above its 50-day moving average, it might reach $0.03 soon.

BENQI (QI)

One more protocol we have on the list of top liquid staking coins is BENQI – a non-custodial liquidity staking platform. Built on a high-efficiency Avalanche Network, BENQI’s Liquidity Staking (BLS) protocol enables individuals to stake their AVAX tokens to receive a liquid-staked AVAX, sAVAX. 

BLS protocol offers users complete control over their assets and the ability to utilize sAVAX on other DeFi platforms while earning interest. Users can stake whatever amount they wish with- no lockup period,  no deposit and withdrawal fees, but there is a 15-day cooldown period before you can actually claim AVAX tokens. QI token is backed by Avalanche and powers BENQI’s ecosystem as well as its DAO governance.

Read On: Top DeFi Projects 2023

Latest News

• BENQI is risk monitoring its lending markets regularly to keep users and protocol safe while also increasing TVL for them.

BENQI: Turbulent environment but business as usual

1 June- 15 June 2023

1/ Amidst a turbulent two weeks, both BENQI Liquid Staking and BENQI Markets keep serving its purpose — TVL and stakers for both sAVAX and veQI steadily increasing as more users seek $AVAX yield while… pic.twitter.com/jaLFnvjJoL

— BENQI🔺 (@BenqiFinance) June 15, 2023

QI Price Prediction 

• QI price today is trading at $0.0057, with a 24-hour trading volume of $28 million. The QI price has gained around 2.8% during the last 24 hours, with its market cap standing at $2 billion as on June 30, 2023.
• QI price has touched its YTD low of $0.0049 following the formation of the 50-day and 200-day intersection death cross.
• RSI below 40 also suggests a short-term bearish market for the QI price.

How to invest in Top Liquid Staking Coins 2023

Investing in Top liquidity coins is now easy, secure, and safe with the CoinDCX app. All you have to do is download the CoinDCX app from playstore and follow the below steps to start your crypto investing journey:

• Once you have downloaded the app, register with your details
• Complete KYC and verify mobile & email
• After Verification, add funds to your wallet
• Buy any LDO, RPL, FXS, ANKR, or QI.