Ethereum Staking Platforms Liquidity Surge
Ethereum’s liquid staking platforms are witnessing remarkable growth, with the addition of 640,000 ETH, valued at approximately $1.04 billion, in just the last 20 days. Among the 23 decentralized finance (DeFi) protocols offering liquid staking, the top five have reported substantial gains over the past 30 days.
Lido, one of the leading players, saw a 30-day increase of approximately 6.32%. As of 1 p.m. ET on Friday, Lido was managing 8.65 million ETH, worth $13.97 billion. Twenty days prior, Lido held 8.38 million ETH, representing 73.98% of the market share. With its current holdings, Lido’s market share has slightly decreased to 72.26% as other platforms attracted more deposits.
Coinbase’s liquid staking protocol experienced a 5.57% growth over the past month, now managing 1.27 million ETH, accounting for 10.65% of the market share in liquid staking derivatives platforms.
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Rocket Pool closely follows with 935,568 ETH, witnessing a 5.91% growth over the same period. The most significant 30-day gain was achieved by Binance’s liquid staking derivatives platform, with an impressive 377% increase. Binance Staked Eth now holds 445,316 ether, constituting 3.72% of the total market share. Frax secured the fifth position with a 3.73% increase over 30 days, currently locking 259,733 ether.
Eigenlayer, positioned in sixth place, experienced a remarkable 554% rise in assets over 30 days, totaling 98,156 ether, or 0.82% of the market share. Eigenlayer’s assets are valued at $158.65 million based on the current ETH exchange rate. If this growth trend persists, it is plausible that the 12 million Ethereum milestone could be reached by September 2023.
The competition among liquid staking protocols in the Ethereum ecosystem has been fierce, and the recent influx of funds underscores the increasing interest in staking services. What are your thoughts on the rapid growth of these protocols in the past 20 days? Feel free to share your opinions in the comments section below.”
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