Cryptocurrency is a great way to generate passive income. You can stake tokens, invest in new upcoming projects, and generate new revenue streams with methods like P2E gaming. Two projects that offer great ways to generate passive income for Lido DAO and Meme Moguls. Here’s why investors should consider them for their portfolios.
Lido DAO Closes In On 10 Million Staked ETH
Lido DAO is a decentralized autonomous organization (DAO) that lets investors stake multiple cryptocurrencies. It’s commonly used for staking Ethereum and is on track to pass a milestone of 10 million staked ETH. According to data from DeFiLlama, Lido DAO has been used to stake 9.49 million ETH as of February 2024. This represents 72% of all liquid-staked Ethereum and has an estimated worth of $21.76 billion.
This milestone is a sign of Lido DAO’s growth. In 2023, Lido DAO’s total value locked doubled from $5 million in February to almost $10 million today. On its current trajectory, Lido DAO could add another $5+ million to its TVL in 2024.
In addition to hitting this milestone, Lido DAO announced that it will introduce its wrapped staked ETH (wstETH) on the Mantle Network. This move improves Lido DAO’s scalability and efficiency while providing users with lower fees, faster transactions, and streamlined integrations with the Mantle Network.
Despite this development, Lido DAO has faced a decline of 1.88% over the last week. This decline reflects a bearish market sentiment, with many altcoins crashing by 10% to 20% over the last month.
However, investors remain bullish about Lido DAO. The project’s daily trading volume has remained stable, increasing 2.7% in the last 24 hours to $71 million.
Meme Moguls Introduces New Passive Income Opportunities
Meme Moguls is a new P2E game that gives investors a range of new passive income opportunities. At its core, Meme Moguls will offer a virtual meme stock market where investors will be able to build a virtual portfolio. Each player will be ranked on their portfolio performance, and the top 20 ranked players will earn a share of a monthly prize pool. But this is just one of many income opportunities.
Investors will be able to stake their Meme Moguls ($MGLS) to earn an annual return or alternatively can compete in in-game tournaments to win rewards. These opportunities are expected to become a big hit within the Meme Moguls ecosystem, which is poised for significant growth over the next few weeks.
Meme Moguls is currently in stage 5 of its presale, which will end on February 28. Leading up to this date, experts predict that Meme Moguls will enter stage 6 of its presale, during which it will hit a new all-time high of $0.0036.
On March 11, Meme Moguls will enter phase one of its games release. This highly anticipated launch is expected to drive up the price of $MGLS, and, in the process, attract hundreds of new players to the Meme Moguls ecosystem.
As this ecosystem grows, experts believe that $MGLS will experience consecutive price increases throughout 2024. By the end of the year, analysts predict that Meme Moguls could hit $0.19.
For more information about the Meme Moguls (MGLS) Presale: