Ethereumย (ETH) Staking Platforms See Surge in Deposits
Ethereum-based liquid staking protocols are witnessing wholeย lotย of growth as they attract more deposits. Inย theย previous 20 days, these platforms have added around 640,000 Ethereumย (ETH), equivalent to approximately $1.04 billion. Between the 23 different decentralized finance (defi) protocols for liquid staking, the top five have reported gains over a 30-day period. Lido, forย example, experienced a 6.32% increase in that timeframe and asย ofย now holds 8.65 Million Ethereumย (ETH) worth $13.97 billion.
Lidoโs market share has slightly decreased from 73.98% to 72.26% due to other platforms attracting more deposits. Coinbaseโs liquid staking protocol has seen a 5.57% increase and manages 1.27 Million Ethereumย (ETH), accounting for 10.65% of the market share. Rocket Pool comesย after closely with a growth of 5.91%, holding 935,568 ETH.
Binanceโs liquid staking derivatives platform recorded the most substantial gain with an impressive 377% jump in the theย previousย 30ย days, now holding 445,316 ether or 3.72% of the total market share. Frax saw a 3.73% increase and asย ofย now has 259,733 locked ether.
Eigenlayer Shows Remarkable Growth
In Sixth place is Eigenlayer, which experienced a remarkable rise of 554% in just one 30ย days. With holdings totaling 98,156 ether, Eigenlayer represents only 0.82% of the market share but amounts to $158.65 Million based on theย present Ethereumย (ETH) exchange rate. If this trend continues, it is plausible that the platforms could surpass the milestone of holding 12 Million Ethereumย (ETH) by September 2023.
Hot Take: Ethereumย (ETH) Staking Platforms Gain Momentum
Ethereumย (ETH) staking platforms are witnessing a surge in deposits, with plentyย of protocols experiencing wholeย lotย of growth in a 30-day period. Lido, Coinbase, Rocket Pool, Binance, and Frax are leading the pack with substantial increases in the amount of Ethereumย (ETH) they hold. This trend indicates growing interest in liquid staking as users seek to earn bonus on their Ethereumย (ETH) holdings. As these platforms continue to attract more deposits, it is plausible that they could surpass the milestone of holding 12 Million Ethereumย (ETH) in the near future. The Ethereumย (ETH) staking ecologicalย system is evolving rapidly, offering opportunities for cryptocurrency enthusiasts toย engage in staking and earn passive income.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
