Saturday, September 30, 2023

Over a period of 20 days, liquid staking platforms on the Ethereum network saw an addition of 640,000 ETH, equivalent to a capital inflow of slightly over $1 billion. The total value locked (TVL) in these protocols is nearing the 12 million ETH threshold, registering 11.97 million ETH as of September 15, 2023.

Liquid Staking Protocols in Ethereum Witness $1 Billion Increment Towards 12 Million ETH Target

Ethereum-oriented liquid staking platforms have been demonstrating significant uptrends. Within the last 20 days, these platforms registered an addition of 640,000 ETH, valued at approximately $1.04 billion. Among 23 different decentralized finance (DeFi) liquid staking platforms, the leading five have shown noteworthy gains over the past 30 days. Specifically, Lido experienced a 6.32% growth within a 30-day timeframe and, as of 1 p.m. ET on Friday, holds 8.65 million ETH valued at $13.97 billion.

Lido’s market share has adjusted slightly, although it remains a dominant player. Twenty days ago, Lido controlled 8.38 million ETH, constituting 73.98% of the overall market share. Now, with its holdings at 8.65 million ETH, its market share has slightly declined to 72.26% as other platforms have successfully garnered more deposits. Coinbase’s liquid staking platform saw a 5.57% growth over a 30-day period and currently manages 1.27 million ETH, making up 10.65% of the market share in liquid staking derivatives.

Rocket Pool trails closely behind with 935,568 ETH, marking a 5.91% increase from the previous month. Binance’s platform reported the most striking 30-day gain, skyrocketing by 377%. It now oversees 445,316 ETH, constituting 3.72% of the overall market share. In fifth place, Frax showed a modest 3.73% 30-day growth, with current holdings at 259,733 ETH.

Notably, Eigenlayer, a liquid staking derivatives platform ranking sixth, observed a colossal 554% surge over the past 30 days. Its total holdings amount to 98,156 ETH, which represents a mere 0.82% of the market share. At the current ETH exchange rate, the value of Eigenlayer’s assets stands at $158.65 million. Given the existing rate of growth, exceeding the 12 million ETH milestone within September 2023 seems likely, assuming the trend persists.

We invite you to share your insights and perspectives on the remarkable growth witnessed in liquid staking platforms over the recent 20-day period in the comments section below.

Frequently Asked Questions (FAQs) about Ethereum liquid staking platforms

What is the main focus of the article?

The article primarily focuses on the significant growth of liquid staking platforms on the Ethereum network. It discusses the addition of 640,000 ETH, valued at over $1 billion, in these platforms over a 20-day period. It also explores the total value locked (TVL) in these platforms, which is nearing a milestone of 12 million ETH.

Who are the key players in Ethereum’s liquid staking market mentioned in the article?

The article identifies Lido as the leading liquid staking platform with the largest market share, followed by Coinbase, Rocket Pool, Binance, and Frax. Eigenlayer is noted for its rapid growth over the last 30 days, although it holds a smaller market share.

What is the significance of the $1 billion capital inflow?

The inflow of over $1 billion in a 20-day period signifies a strong investor interest and market momentum in Ethereum-based liquid staking platforms. It is indicative of the growing prominence of these platforms in the decentralized finance (DeFi) space.

What does “Total Value Locked (TVL)” mean?

Total Value Locked (TVL) refers to the total amount of assets, in this case, ether (ETH), that is locked or staked in the protocols. As of September 15, 2023, the TVL in Ethereum’s liquid staking platforms was 11.97 million ETH.

How has the market share for Lido changed over the past 20 days?

Twenty days ago, Lido held 8.38 million ETH, which accounted for 73.98% of the market share. As of the latest data, Lido holds 8.65 million ETH but its market share has slightly declined to 72.26%. This indicates that other platforms are also attracting deposits and gaining market share.

Is it likely that the total value locked will surpass 12 million ETH soon?

Given the existing rate of growth, the article suggests that exceeding the 12 million ETH milestone within September 2023 appears plausible, assuming the trend continues.

What does the article invite readers to do?

The article invites readers to share their insights and perspectives on the growth of Ethereum’s liquid staking platforms over the recent 20-day period in the comments section below.

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Finance_Wiz September 16, 2023 - 12:52 pm

Eigenlayer with a 554% rise? That’s insane, even for crypto standards. They’re definitely the dark horse in this race.

CryptoGuru88 September 16, 2023 - 2:41 pm

interesting read, thx for sharing. kinda amazed at Lido’s market share, still a giant despite other platforms catchin up. where do you guys think this is headed?

TechSavvy September 16, 2023 - 6:48 pm

Lido losing market share? Maybe it’s time to diversify a bit. Binance is growing like crazy, could be a good bet.

DeFiDabbler September 16, 2023 - 11:33 pm

Breaking the 12M ETH milestone seems inevitable at this point. The momentum’s too strong to slow down anytime soon, mark my words.

SallyQ September 17, 2023 - 12:28 am

I’m surprised Rocket Pool isn’t higher up. They’ve been doing solid work for years now. Wonder why they aren’t getting as much love as the others.

JustCurious September 17, 2023 - 3:24 am

New to this. Is it safe to put my money in these liquid staking platforms? with that kind of growth, seems to good to be true.

JohnDoe123 September 17, 2023 - 4:18 am

Wow, this is huge! Never thought I’d see the day when liquid staking would attract a billion bucks in just 20 days. Clearly, ETH is on fire right now.


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