Lido’s Total Value Locked Surpasses $15 Billion
In the latest Lido Monthly Report, it was revealed that the total value locked in Lido has exceeded $15 billion for the first time since May 2022. Despite the activation of the ability to withdraw staked ether earlier this year, the protocol has consistently seen large monthly net inflows of ETH deposits. This continuous growth puts Lido on track to surpass eight million staked ETH in the coming month. Additionally, Lido has experienced remarkable adoption, with over 10,000 new stakers using the protocol, marking a more than 50% increase compared to the previous month.
Cumulative Deposited Ether and Ethereum Validators Show Steady Growth
According to The Block’s Data Dashboard, the cumulative deposited ether and Ethereum validators have shown a consistent upward trend throughout 2023. Currently, there are 25.13 million coins deposited and over 786,000 validators on the network.
Hot Take: Lido’s Growing Adoption Reflects Confidence in Ethereum Staking
Lido’s achievement of surpassing $15 billion in total value locked and its increasing number of new stakers demonstrate the growing confidence in Ethereum staking as a viable investment strategy. The continuous growth of Lido’s protocol and the steady increase in cumulative deposited ether and validators further solidify the prominence of decentralized finance (DeFi) in the crypto space. As more investors recognize the potential of staking and the benefits it offers, the Ethereum network and projects like Lido are likely to witness even greater adoption and value in the future.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats. Theon’s work serves as a guiding light for both experienced enthusiasts and newcomers, providing well-researched perspectives that empower informed decision-making in the ever-evolving realm of cryptocurrencies.
