Ethereum Liquid Staking Protocols Hit New Milestone Following Massive Inflows
September 26 2023 - 9:30AM
NEWSBTC
Ethereum liquid staking platforms are making waves in the
decentralized finance (DeFi) ecosystem. Recent on-chain reports
have revealed that liquid staking protocols have recorded a new
milestone in the number of Ether (ETH) staked, reaching a
staggering 12 million ETH mark in just a few days. Ethereum
Liquid Staking Gains Momentum With Ethereum 2.0 thriving, liquid
staking protocols in the DeFi ecosystem have been growing rapidly
despite recent market volatility. Research data from DeFi TVL
aggregator, Defillama, revealed on Monday, September 25, the
tremendous growth of Ethereum holdings in liquid staking platforms.
According to the data, the ETH in liquid staking protocols has
risen to approximately 12.31 million and may continue rising.
Related Reading: Number Of Ethereum Addresses Losing Money Just
Reached A New All-Time High Reports uncovered that a staggering
370,000 ETH were staked in just five days, allowing liquid staking
protocols to reach their current 12 million mark. Liquid staking
platforms like Lido, Rocket Pool, Coinbase, and Binance are among
the list of prominent protocols that led to the recent upsurge in
Ether staking. According to Defillama TVL rankings, Lido
holds the top spot for the amount of Ethereum staked with a TVL of
$13.997 billion in liquid staking. The protocol secured over 8
million Ether on September 20, and another 30,000 after that. Lido
Finance dominates ETH liquid staking | Source: DeFiLlama Coinbase
is presently ranked second in Defillama’s TVL rankings, holding
approximately $2.155 billion, a significant gap from Lido’s
TVL. Coinbase has about 1.3 million Ether presently in its
reserve. Whereas, Rocket Pool holds the third position in TVL
rankings and has increased its Ether holdings from 940,496 to
945,402. Binance Liquid Staking Platform Takes The Lead
Binance liquid staking platform has been the driving force behind
the recent spike in ether influx in liquid staking protocols in the
DeFi ecosystem. According to reports, Binance added a
startling amount of ether to its already substantial ether
reserves. The liquid staking platform which previously recorded
445,000 ETH in its reserve, added 318,605 ETH and now holds 764,105
ETH. Research data have revealed that Binance amassed a
considerable amount of ETH tokens to support its staking token,
Wrapped Beacon ETH (WBETH). Related Reading: Crypto Analyst Says
Prepare For 100% Increase In Bitcoin Price As Historical Pattern
Forms In the last three months, the DeFi ecosystem recorded a
liquid staking valuation above $20 billion evaluating various
protocols in the DeFi ecosystem. Following this, Defillama’s
September data revealed liquid staking protocols now hold $20.5
billion in assets, increasing by a staggering 293% from previous
lows in June 2022. Although the key protocols steering the
surge are Lido, Binance, and Rocket Pool. Other upcoming liquid
staking protocols like Davos and InQubeta are persisting, driven by
the Ethereum 2.0 upgrade and investors desire to maximize their
earnings through Ethereum staking. ETH price at $1,587 as liquid
staking surges | Source: ETHUSD on Tradingview.com Featured image
from iStock, chart from Tradingview.com
Rocket Pool (COIN:RPLUSD)
Historical Stock Chart
From Jul 2024 to Aug 2024
Rocket Pool (COIN:RPLUSD)
Historical Stock Chart
From Aug 2023 to Aug 2024