Lido Achieves 9 Million Ethereum Milestone as Rocket Pool Surpasses 1 Million in Defi’s Booming Staking Sector

The industry of liquid staking, now valued in the billions, is led by Lido, the leading liquid staking protocol in today’s decentralized finance (defi) landscape. Liquid staking, at its core, involves staking tokens while the assets remain “liquid” or “unlocked,” allowing for diverse applications.

This method allows stakers to earn rewards while maintaining access to their funds. For an extended period, Lido has been at the forefront of this market, and on November 21, 2023. As of December 3, 2023, Lido holds a substantial 9.28 million Ethereum (ETH) in deposits. In the preceding 36 days, dating back to October 27, 2023, the platform saw an influx of 490,000 ether.

The current total value locked (TVL) in the protocol is estimated at $20.05 billion, based on prevailing exchange rates. Among the 25 liquid staking protocols (LSPs), Lido accounts for a commanding 77.81% of the market share. The second-largest player, Rocket Pool, recorded a deposit of 49,214 ether in the same 36-day period. Additionally, Rocket Pool recently celebrated a significant achievement, surpassing the 1 million ETH mark in TVL.

See also  Cristiano Ronaldo was sued because of Binance's advertising