Ethereum liquid staking protocols reach new milestone with significant inflows

Ethereum liquid staking protocols reach new milestone with significant inflows

The Growing Momentum of Ethereum Liquid Staking Platforms

The decentralized finance (DeFi) ecosystem is currently experiencing significant growth in Ethereum liquid staking platforms. Recent on-chain reports reveal that these protocols have reached an impressive milestone, with approximately 12 million Ether (ETH) staked in just a few days.

Ethereum Liquid Staking Gains Momentum

Despite recent market volatility, liquid staking protocols in the DeFi ecosystem are thriving due to the success of Ethereum 2.0. One of the main indicators of this growth is the rising number of Ethereum holdings in liquid staking platforms.

Research data from DeFi TVL aggregator, Defillama, reveals that the amount of ETH in liquid staking protocols has surpassed 12.31 million and continues to increase. In just five days, a staggering 370,000 ETH was staked, contributing to the recent surge.

Prominent liquid staking platforms such as Lido, Rocket Pool, Coinbase, and Binance have played a crucial role in this growth. According to Defillama TVL rankings, Lido holds the top spot with a Total Value Locked (TVL) of $13.997 billion in liquid staking. On September 20, Lido already secured over 8 million Ether, further increasing its holdings after that.

Lido Finance dominates ETH liquid staking

Coinbase follows closely behind with approximately $2.155 billion in TVL and 1.3 million Ether in its reserves. Rocket Pool holds the third position in TVL rankings with an increase in Ether holdings from 940,496 to 945,402.

Binance Liquid Staking Platform Takes the Lead

Binance has been a driving force behind the recent influx of Ether in liquid staking protocols within the DeFi ecosystem. Reports indicate that Binance significantly added to its already substantial ether reserves. The liquid staking platform, which previously held 445,000 ETH, added 318,605 ETH to reach a total of 764,105 ETH. This increase in holdings is primarily to support Binance’s staking token, Wrapped Beacon ETH (WBETH).

Over the past three months, the DeFi ecosystem has witnessed a liquid staking valuation above $20 billion, evaluating various protocols in the space. Defillama’s September data reveals that these protocols now hold $20.5 billion in assets, representing a staggering 293% increase compared to the lows experienced in June 2022.

While protocols like Lido, Binance, and Rocket Pool have been instrumental in driving this surge in liquid staking, other platforms such as Davos and InQubeta are also gaining momentum. These upcoming protocols are fueled by the Ethereum 2.0 upgrade and the desire of investors to maximize their earnings through Ethereum staking.

ETH price at $1,587 as liquid staking surges

As the popularity of Ethereum liquid staking continues to rise, it is clear that these platforms are becoming a significant component of the DeFi ecosystem. This trend showcases the growing importance of staking in the blockchain industry, with users seeking ways to earn rewards while contributing to network security.

Liquid staking platforms offer liquidity and flexibility to users, allowing them to stake their Ether while still having the option to trade or use their holdings. This ability to benefit from the potential upside of Ether while participating in the staking process has attracted many participants.

Furthermore, the growth of liquid staking platforms highlights the increased acceptance and adoption of blockchain technology. By bridging traditional finance and crypto, these platforms provide a gateway for users to engage with DeFi in a secure and user-friendly manner.

With the ongoing development of Ethereum 2.0 and the exciting possibilities it brings, liquid staking platforms are poised to play a pivotal role in the blockchain industry. As more individuals and institutions recognize the benefits of staking and the potential for passive income, we can expect further growth and innovation in this space.

As the industry evolves, it is crucial for stakeholders to stay informed about the latest developments in the blockchain ecosystem. By embracing liquid staking platforms and understanding their potential, individuals can make informed decisions and take advantage of the exciting opportunities this technology offers.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Crazy bull market is about to start, how should we prepare?

We need to be cautious, but not overly cautious, in order to not miss once in a lifetime opportunities. We need to ad...


Bitcoin price nears $43K, yet derivative data suggests traders lack confidence.

Bitcoin's price began the week with a promising increase to $43,500, however, data from derivatives trading indicates...


Vitalik Buterin discusses Ethereum's account abstraction challenges at EthCC.

'Vitalik Buterin enthusiastically explained the immense potential of an account abstraction extension that enables ap...


Buffett and Ackman's differing views on Treasury yields: impact on Bitcoin?

Buffett and Ackman hold contrasting perspectives on inflation and the U.S. economy. Let's explore how their differing...


Wu's Selected Topics Key Progress of Bitcoin ETF, CZ Banned from the US, Bitcoin Inscription Great Discussion, and News Top10

Author | Wu speaks about this week's Top 101 news in blockchain. Negotiations between US Bitcoin ETF issuers and the ...


Franklin Templeton Files Spot Ethereum ETF Application

Franklin Templeton has announced their application for a spot Ethereum ETF with the US Securities and Exchange Commis...