Ethereum’s Liquid Staking Derivatives Platforms Approach $20 Billion Valuation with 10 Million ETH Locked

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According to the latest data, liquid staking derivatives platforms have successfully secured over ten million Ethereum (ETH), reaching a valuation of nearly $20 billion based on current exchange rates. Notably, two prominent decentralized finance (DeFi) protocols in the liquid staking sector, Lido Finance and Rocket Pool, have demonstrated impressive 30-day growth rates ranging from 7.57% to 9.69%.

As of July 2, 2023, the total amount of locked Ethereum in liquid staking DeFi platforms surpasses ten million ETH. At the time of this report, the locked amount stands at approximately 10.11 ETH, equivalent to a value of $19.456 billion based on today’s exchange rates. Lido Finance, the leading liquid staking derivatives protocol, holds a remarkable 74.51% market share, securing approximately 7,530,330 ETH as of Sunday morning at 8:00 a.m. Eastern Time, as reported by defillama.com.

Here are the details of the total value locked (TVL) in Ethereum-based liquid staking derivatives platforms on July 2, 2023, according to defillama.com:

• Lido Finance: With a weekly TVL increase of 1.90% and a monthly growth rate of 7.57%, Lido’s current TVL amounts to $14.43 billion.
• Coinbase’s Wrapped Ether: Despite a slight dip of 0.24% over the month, Coinbase’s liquid staking derivatives platform experienced a seven-day TVL increase of 3.27%. Currently, it secures around 1,124,130 ETH, valued at $2.24 billion.
• Rocket Pool: While showing a modest seven-day growth of approximately 0.99%, Rocket Pool’s 30-day performance witnessed a more significant increase of 9.69%. As of Sunday morning, Rocket Pool holds around 803,406 ETH, amounting to $1.54 billion in value.
• Frax Ether: The Frax Ether DeFi application reported a 1.96% weekly rise but had a monthly growth of only 0.81%. It currently controls 234,062 ETH.
• Stakewise: As the fifth-largest liquid staking derivatives platform, Stakewise observed a marginal 0.31% uptick over the past week and a June increase of 1.10%.

Among the 10.11 million staked ETH, a total of 22 liquid staking derivatives platforms exist. As of Sunday morning, the top five liquid staking derivatives tokens display an ETH-peg price discrepancy ranging between 0.08% and 0.53%. With Lido Finance’s impressive liquid staking holdings, its token, Lido staked ether (STETH), has now positioned itself as the seventh largest market cap in the industry today.

Looking ahead, the future of liquid staking derivatives platforms appears promising. The increasing attraction of Ethereum and the reshaping of the DeFi landscape are anticipated. Share your thoughts and opinions about the future of these platforms in the comments section below.

Frequently Asked Questions (FAQs) about liquid staking defi platforms

More about liquid staking defi platforms

• Lido Finance
• Rocket Pool
• Defillama
• Coinbase Wrapped Ether
• Frax Ether
• Stakewise
• Ethereum
• Decentralized Finance (DeFi)