Ether Locked in Liquid Staking Platforms Soars to $54.34B, Marking a Whopping $26.85B Surge in Just 64 Days! ETH Price Skyrockets: Ethereum's value has been on a remarkable upswing, with a 12.5% surge in the past week and an impressive 56.9% increase over the month. Currently trading at over $3,900 per coin, ETH is on fire!
LSDs Take Center Stage: The surge in ETH's price has had a profound impact on the liquid staking derivatives (LSDs) scene, propelling its total value to an eye-popping $54.34 billion. That's more than half of the entire decentralized finance (defi) ecosystem!
Data Unveils Astonishing Accumulation: In just 64 days since January 6, 2024, a staggering 1.56 million ETH has found its way into these platforms, catapulting the total locked-in ether to 13.87 million and adding a mind-boggling $26.85 billion to the pot.
Lido Dominates with Rocket Pool Close Behind: Lido Finance reigns supreme, managing a whopping 71.04% of all secured ETH with their impressive stash of 9.85 million coins. Rocket Pool follows suit with 1.13 million ETH valuing at $4.41 billion.
The Challengers Emerge: While Lido and Rocket Pool lead the pack, Binance, Mantle, and Stakestone are making their presence felt with substantial holdings of their own—though still below the million-ETH mark.
Mantle's Meteoric Rise: Among the challengers, Mantle shines bright with an impressive growth rate of 25.78% over the past 30 days, while Frax and Coinbase experience minor setbacks.
The Tide Keeps Rising: With millions of ETH flowing into these innovative platforms, the competition is heating up. While Lido enjoys its frontrunner status, the race for dominance in liquid staking is far from over!
