In the past two weeks, the total value locked (TVL) in liquid staking derivatives has skyrocketed by 441,110 Ethereum, which, at current value, are worth around $793 million. A look at the top decentralized finance (defi) protocols shows that, among the 8,872,715 ETH in liquid staking protocols, Lido dominates the market with 74.3596% share and 6.59 million ETH. The second largest LSD protocol is Coinbase Wrapped Staked Ether, with 1,145,137 staked ETH.

The biggest gainer in one week was Rocket Pool, which saw its TVL jump by 5.27%, while Frax Ether and Stakewise also saw gains, recording a 5.21% and 0.48% increase respectively. Looking at the 30-day metrics, Lido’s value locked climbed by 11.10%, while Coinbase’s staked ETH TVL saw a 3.95% decrease. The two protocols that recorded double-digit increases in the past 30 days were Frax Ether with a 42.55% growth and Rocket Pool with a 34.37% surge.

At the moment, Rocket Pool is almost catching up with Coinbase in terms of the amount of staked ETH, but for it to overtake Coinbase’s protocol, it will have to increase its staked ETH deposits by almost 84%, with a minimum of 523,000 ETH. Despite the sharp increase in TVL, the total value locked in liquid staking protocols overall has decreased slightly, by 0.235%. The revolutionary impact of liquid staking derivatives, however, is still undeniably present, and ETH locked into these protocols illustrate that.



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