LDO

Eigenlayer is launching soon and they chose Polychain. Paradigm fights back and decides to launch Symbiotic with Lido as its competitor.

One camp is Paradigm (Flashbots = MEV leader + Lido = eth staking leader) vs. Polychain (Eigenlayer).

Eigenlayer will probably launch with 20-50b FDV as re-staking is a major milestone for Ethereum. When Symbiotic launches, the market cap difference between Eigenlayer and LDO fdv will be huge (LDO is now 2bn)

Biggest advantage is most staked eth = StETH (lido) There has been a lot of talk lately about low float high fdv: market participants will feel safer in fully circulated supply coins

ETH ETF = Bullish ETH = 8%+ of eth supply in Lido

LDO has 500 days of consolidation between $4 and $1.5, a breakout would be huge, LDO is the top Defi with $28bn TVL.