CandleFocus

Liquid Staking Absorbs 400,000 ETH, Closing in on 14M Mark

Author: Content Editor
Over the past 38 days, the total value locked in decentralized finance (defi) protocols has decreased by $5.07 billion. However, ethereum continues to flow into liquid staking derivative (LSD) platforms, with 29 different LSDs attracting nearly $1 billion worth of ether during this period. Despite the decrease in total value locked in defi, certain LSD platforms have seen steady ethereum deposits. The total amount of ether held in LSDs has grown from 13.59 million to 13.99 million, just short of the 14 million ETH milestone. Lido remains the dominant LSD, holding 69.85% of the total ether. Rocket Pool has been bumped to third place, while Binance's Staked Ether app now claims the second spot. The growth in deposits can largely be attributed to Binance's LSD, as it accumulated 407,098 ETH during this period. Other LSDs, such as Frax Ether and Stakestone, experienced outflows.

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