Monday, October 2, 2023

The popularity of ethereum liquid staking derivatives platforms has been on the rise, as evidenced by a recent influx of 270,000 ETH (approximately $505 million) deposited into these decentralized finance (defi) staking protocols over the past two weeks. Currently, these platforms collectively hold about 10.65 million ETH.

Lido Finance remains the dominant player among the 23 liquid staking applications, with a significant market share of 74.31%. Two weeks ago, Lido held 7.71 million ETH, which has since increased to 7.91 million ETH. Coinbase and Rocket Pool also saw growth in their ether reserves, with Coinbase holding 1.17 million ETH (10.99% market share) and Rocket Pool holding 857,967 ETH (8.06% market share).

Frax Ether, Stakewise, and Binance Pool experienced modest increases in their ETH holdings, while Swell and Stader showed notable growth over the past week. On the other hand, Ankr and Stafi saw declines in their holdings.

Lido’s staking derivative, the token staked ether (STETH), is held by 233,229 distinct ETH addresses. Notably, the top ten STETH addresses control 53.30% of the entire supply, and the top 100 STETH wallets command a significant 69% of the total STETH supply.

The continuous influx of ether deposits into these liquid staking platforms showcases the increasing interest and confidence in these defi-based staking options. The market seems to be evolving rapidly, with various platforms vying for a larger share of the liquid staking landscape.

Feel free to share your thoughts and opinions about this subject in the comments section below.

Frequently Asked Questions (FAQs) about DeFi staking

What is the recent influx of Ethereum (ETH) in liquid staking derivative protocols?

In the past fortnight, there has been an influx of about 270,000 units of Ethereum (ETH) deposited into various liquid staking derivative protocols within the decentralized finance (DeFi) space.

How much Ethereum (ETH) is currently locked within the DeFi staking platforms?

Currently, the DeFi staking platforms hold an estimated 10.65 million Ethereum (ETH) units locked within their systems.

Which liquid staking platform holds the highest market share?

Lido Finance claims the highest market share among the 23 liquid staking applications, with a dominating 74.31% share.

What was the initial amount of ETH held by Lido Finance two weeks ago, and how much has it grown since then?

Two weeks ago, Lido held 7.71 million ETH within its infrastructure. Currently, it has grown to hold 7.91 million ETH.

How does Coinbase’s ETH reserve compare to its market share in the liquid staking space?

Coinbase holds 1.17 million ETH, accounting for 10.99% of the liquid-staked ETH market share.

How has Rocket Pool’s ETH holdings changed in the past two weeks?

Rocket Pool’s ETH holdings increased from 830,039 ETH to the current total of 857,967 ETH over the past two weeks.

What is the significance of the growth in Frax Ether, Stakewise, and Binance Pool’s ETH holdings?

Frax Ether witnessed an increase from 238,197 ETH to 243,819 ETH, Stakewise’s ETH holdings escalated from 92,326 to 93,225, and Binance Pool’s ETH cache grew from 91,834 to 92,824.

Which platforms experienced growth and which ones saw a decline in the past week?

Lido claimed the top position in terms of weekly gains, escalating 1.75%. Swell experienced a 6.08% uptick, while Stader witnessed a 40.54% surge. Conversely, Ankr declined by 10.52%, and Stafi experienced a 5.93% reduction.

How is the staking derivative token STETH distributed among ETH addresses?

As of Saturday, the STETH token is held by 233,229 distinct ETH addresses. The top ten STETH addresses possess 53.30% of the entire supply, and the top 100 STETH wallets control 69% of the total STETH supply.

What does the influx of ETH deposits indicate about the popularity of DeFi staking?

The influx of ETH deposits showcases the increasing interest and confidence in DeFi-based staking options, as these platforms continue to attract significant amounts of Ethereum.

More about DeFi staking

  • “Ethereum Liquid Staking Sees 270,000 ETH Influx in 2 Weeks” (Source: Cryptopotato)
  • “Lido Finance Dominates the Liquid Staking Market with 74.31% Share” (Source: The Daily Hodl)
  • “Coinbase and Rocket Pool Experience Growth in ETH Reserves” (Source: CryptoSlate)
  • “DeFi Platforms Witness Significant Increases in Staked ETH” (Source: CoinDesk)
  • “Top Liquid Staking Platforms and Their Market Shares” (Source: Coingecko)
  • “STETH Token Distribution and Top ETH Addresses” (Source: Etherscan)


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