Lido Dominates the Liquid Staking Market
Lido, the leading liquid staking protocol, has achieved a major milestone by surpassing 9 million ether deposits. With over 9 million ethereum within its system, Lido holds a significant 77.81% of the total ethereum value locked in current liquid staking protocols. This showcases Lido’s dominant position in the market.
Liquid Staking and Its Benefits
Liquid staking is a popular practice in decentralized finance (defi) that allows users to stake tokens while keeping them liquid and accessible for various purposes. By participating in liquid staking, users can earn rewards while still having control over their funds.
Lido’s Achievement
Lido has been at the forefront of the liquid staking market for a while now and recently reached a significant milestone. As of December 3, 2023, Lido holds over 9 million ethereum in deposits, with an influx of 490,000 ether in the past 36 days. This puts Lido’s total value locked (TVL) at an estimated $20.05 billion.
Rocket Pool’s Milestone
Rocket Pool, another player in the liquid staking market, has also achieved a noteworthy milestone. The platform recently surpassed 1 million ether in TVL. While Lido observed deposits of 490,000 ether, Rocket Pool recorded over 49,000 ether deposits in the same period.
Impact on the Market
Lido and Rocket Pool’s milestones collectively highlight their dominance in the liquid staking market. Together, these protocols control a combined total of 10 million locked ether worth $22.28 billion. Liquid staking protocols currently hold more than 52% of the total value locked in defi, showcasing the growing popularity and importance of this sector.
Hot Take: Lido’s Dominance in Liquid Staking
Recent data reveals that Lido’s liquid staking protocol is leading the market, with over 9 million ethereum in deposits. Accounting for a commanding 77.81% of the market share, Lido has established itself as the go-to choice for liquid staking. This achievement underscores Lido’s dominant position and emphasizes the growing importance of liquid staking in the decentralized finance landscape.
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