Ethereum Liquid Staking Landscape Continues to Swell
The liquid staking platforms based on ethereum (ETH) are attracting significant deposits, with 270,000 ETH, worth over $505 million, being deposited recently. Here are the key points:
- Lido Finance currently dominates the market with a 74.31% share of the 10.65 million ETH secured in these platforms.
- Coinbase holds 10.99% of the liquid-staked ETH market share, with its ether reserves growing from 1.14 million to 1.17 million.
- Rocket Pool’s ether holdings increased from 830,039 ETH to 857,967 ETH, giving them an 8.06% market share.
- Frax Ether and Stakewise also experienced growth in their ETH holdings.
- Binance Pool and Stakewise are approaching the 100,000 threshold in terms of ETH holdings.
Hot Take
The ethereum liquid staking landscape is expanding rapidly, with Lido Finance leading the pack. As more users realize the benefits of earning staking rewards while still having liquidity, we can expect this trend to continue. However, it’s important to keep an eye on the concentration of STETH tokens in the hands of a few addresses, as this could potentially impact the decentralization of the network in the long run.
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