Ethereum Liquid Staking Platforms Reach New Milestone
The decentralized finance (DeFi) ecosystem is experiencing a surge in Ethereum liquid staking platforms. Recent reports show that these protocols have achieved a significant milestone by staking a total of 12 million ETH in just a few days.
Growing Popularity of Ethereum 2.0 and Liquid Staking
Despite market volatility, liquid staking protocols in the DeFi ecosystem have been rapidly growing alongside the success of Ethereum 2.0. Research data from Defillama, a DeFi TVL aggregator, reveals that the amount of ETH held in liquid staking platforms has risen to approximately 12.31 million and is expected to continue increasing.
Major Players in Liquid Staking Platforms
Around 370,000 ETH were staked within five days, contributing to the current milestone of 12 million ETH. Prominent protocols such as Lido, Rocket Pool, Coinbase, and Binance have played a significant role in driving this increase in Ether staking.
Lido Leads the Pack
Lido currently holds the top spot for Ethereum staked with a total value locked (TVL) of $13.997 billion. The protocol secured over 8 million Ether on September 20 and has continued to add more since then.
Coinbase and Rocket Pool Follow Suit
Coinbase ranks second in terms of TVL with approximately $2.155 billion worth of Ethereum staked. Rocket Pool holds the third position and has increased its Ether holdings from 940,496 to 945,402.
Binance Emerges as a Key Player
Binance’s liquid staking platform has been instrumental in driving the recent influx of Ether into liquid staking protocols. The platform added a significant amount of ETH to its reserves, bringing the total to 764,105 ETH. This move was made to support Binance’s staking token, Wrapped Beacon ETH (WBETH).
DeFi Ecosystem Continues to Grow
In the past three months, the DeFi ecosystem has seen a liquid staking valuation surpassing $20 billion across various protocols. Defillama’s data for September shows that liquid staking platforms now hold $20.5 billion in assets, representing a remarkable 293% increase since June 2022.
Hot Take: Ethereum Liquid Staking Platforms Thrive Amidst DeFi Boom
The rise of Ethereum liquid staking platforms showcases the growing interest and demand for decentralized finance solutions. As Ethereum 2.0 gains momentum, investors are increasingly turning to these platforms to maximize their earnings through staking. With Lido, Coinbase, Rocket Pool, and Binance leading the way, the DeFi ecosystem is poised for further growth in the coming months.
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