Ethereum Liquid Staking Attracts 270,000 ETH Influx in Just 2 Weeks
n the ever-evolving world of cryptocurrency, Ethereum (ETH) has proven to be one of the most influential and dominant players. In recent times, decentralized finance (DeFi) staking platforms based on Ethereum have been garnering immense attention. Today, we delve into the latest statistics surrounding the liquid staking landscape, highlighting the platforms, their growth, and their market share. Join us as we explore the world of Ethereum liquid staking and discover the leading players in this exciting realm.
Recent Statistics and ETH Deposits
Over the past two weeks, liquid staking derivative protocols have witnessed a remarkable surge, with approximately 270,000 units of Ethereum (ETH) being deposited into these platforms. This influx translates to a staggering $505 million, considering the current exchange rates for ETH.
The trend is undoubtedly fascinating, with the total Ethereum locked within these DeFi staking platforms reaching an impressive 10.65 million ETH. Such substantial numbers signify the growing popularity and confidence in liquid staking as an attractive investment strategy.
Lido Finance Leads the Charge
When it comes to the leading players in the Ethereum liquid staking landscape, Lido Finance stands tall, claiming a dominant 74.31% of the market share. Back on July 14, 2023, the platform secured 7.71 million ETH within its infrastructure. As of the most recent data on July 29, Lido Finance boasts an astounding 7.91 million ETH under its management.
Coinbase and Rocket Pool: Fierce Competitors
While Lido Finance holds a substantial market share, Coinbase and Rocket Pool are fierce competitors vying for a piece of the pie. Coinbase currently holds 10.99% of the liquid-staked ETH market share, with its ether reserves growing from 1.14 million to 1.17 million over the same period.
Rocket Pool, on the other hand, has experienced a notable uptick in the past two weeks, witnessing its ETH holdings grow from 830,039 to an impressive 857,967. This puts Rocket Pool’s market share at 8.06%, making it a formidable contender in the Ethereum liquid staking space.
The Upward Trajectory of Other Players
Apart from the top three contenders, other platforms have also demonstrated notable growth in their ETH holdings. Frax Ether, for instance, has witnessed an upward trajectory, rising from an initial 238,197 ETH to 243,819 within the same period.
Stakewise, although not experiencing exponential growth, recorded a modest increase in its ETH holdings, escalating from 92,326 to 93,225. Additionally, Binance Pool’s ether cache also saw growth from 91,834 to its present standing at 92,824 ETH.
Emerging Platforms Nearing the 100,000 ETH Threshold
Two platforms that are approaching the significant milestone of 100,000 ETH are Binance Pool and Stakewise. Over the past month, Binance Pool emerged as the forerunner with an impressive 29.20% growth rate.
Meanwhile, among the top five liquid staking platforms, Lido Finance claimed the top position in terms of weekly gains, boasting a noteworthy 1.75% increase. However, beyond the leading five, two platforms experienced a considerable surge in the past week: Swell, with a 6.08% uptick, and Stader, with an impressive 40.54% surge. Conversely, Ankr declined by 10.52%, and the liquid staking platform Stafi experienced a 5.93% reduction.
STETH Token and Address Distribution
Lido Finance’s staking derivative generates the token staked ether (STETH), and as of Saturday, this token is held by 233,229 distinct ETH addresses. Within this distribution, the top ten STETH addresses possess an astonishing 53.30% of the entire supply. Expanding the scope to the top 100 STETH wallets, we find that they control a commanding 69% of the total STETH supply.
Conclusion
In conclusion, the Ethereum liquid staking landscape is experiencing significant growth, with numerous platforms vying for dominance in the market. Lido Finance continues to assert its position as the leader, but Coinbase and Rocket Pool are not to be underestimated, with strong market shares and substantial ETH holdings.
As the DeFi space continues to evolve, it’s crucial for investors and enthusiasts to stay abreast of the latest developments in liquid staking platforms. Whether you’re an active participant or a curious observer, understanding the current statistics and trends will empower you to make informed decisions in this dynamic and fast-paced sector.
