From 7.45% to 26.18%: Lidos Dominance in DeFi TVL Explodes in 12 Months

From 7.45% to 26.18%: Lidos Dominance in DeFi TVL Explodes in 12 Months

Lido’s market dominance in liquid staking has increased to 26.18%, with $12.2 billion locked as of May 25, 2023, representing 73% of the market share in ETH derivatives.

Reports by statistics, the liquid staking platform Lido accounted for 7.45 percent of the total value locked in decentralized finance (DeFi) last year today. Ever since, Lido’s market dominance has significantly increased over the last 12 months to its current 26.18 percent share.

Lido’s Market Share in Liquid Staking ETH Derivatives Stands at 73%

The liquid staking protocol Lido Finance holds a prominent position in the world of Decentralized Finance. As of May 25, 2023, there is $46.6 Billion locked into Decentralized Finance applications and protocols, with Lido’s total value locked (TVL) representing 26.18 percent of that amount. At the time of publication, 11:45 a.m. Eastern Time on Thursday, Lido’s TVL stands at approximately $12.2 billion, reports by metrics from

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Reports by Lido’s website, the present value locked in the protocol is $12.27 billion, with $12.11 Billion representing ethereum (ETH). The remaining portion of value held in Lido originates from networks such as Polkadot (DOT), Solana (SOL) Polygon, and Kusama. Lido’s dominance of 26.18 percent is significantly more than a year ago when the TVL in Decentralized Finance amounted to $111.11 billion.

Back then, Lido’s TVL amounted to $8.28 billion, accounting for 7.45 percent of the total value locked in Decentralized Finance on that day. Last year, MakerDAO held the position as the most dominant Decentralized Finance protocol in terms of TVL, with 8.87 percent of the Decentralized Finance economy’s value and $9.86 Billion locked. Lido’s dominance began to win momentum at the start of 2023, a time when the TVL in Decentralized Finance was merely $38.72 billion.

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Archived data signifies that when the TVL in Decentralized Finance reached $38.72 billion, Lido’s dominance stood at 15.24%. During that period, Lido’s TVL amounted to only $5.9 billion. Reports by statistics from, Lido commands a market share of 73.26 percent in liquid staking ETH derivatives, representing 9,128,624 locked ether. Out of the total 9.12 Million ether, current statistics show that Lido holds 6,687,554 ETH.

During the past 30 days, Lido experienced an 8.91 percent change, whereas competitors in the liquid staking ETH derivative space such as Rocket Pool and Frax Ether saw double-digit profits. Rocket Pool recorded an increase of 32.18%, while Frax witnessed a boost of 42.25 percent in the previous 30 days. Coinbase’s liquid staking ETH derivative stands as the Second largest, with 1,128,662 ether locked, but it has experienced a reduction of 1.47 percent over the same period.

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