Investors and institutions are lining up to lock up their ETH to earn yields. 1.16M ETH is waiting to enter, with an estimated wait time of about 20 days. Meanwhile, the amount seeking to exit is only 185.8K ETH, with a wait time of 4 days. More than 36% of the total Ethereum supply is currently locked on the network. These metrics directly and significantly impact Lido DAO and $LDO. Lido is the leading protocol, holding approximately 30% of all staked ETH on the Ethereum network. Because protocols like Lido provide users with stETH for instant liquidity, such long wait times incentivize users to choose Lido. Instead of waiting 20 days in line, investors may prefer to purchase stETH on secondary markets. Lido operates with hundreds of thousands of distinct node operators. The congestion in the consolidation queue is an active process Lido uses to reduce operational costs and optimize the number of nodes on the network. Lido charges a 10% fee on staking rewards. Given these metrics, LDO is currently my top-ranked undervalued altcoin. As a major Ethereum rally is anticipated, positioning in LDO feels to me like buying ETH with 5x leverage.