Recent statistics reveal that in the past fortnight, about 270,000 units of ethereum (ETH) were deposited into liquid staking derivative protocols. Currently, these decentralized finance (defi) staking platforms hold an estimated 10.65 million ether locked within their systems.
Ethereum Liquid Staking Landscape Continues to Swell
Liquid staking platforms based on ethereum (ETH) have continued to attract sizable deposits, as evidenced by an influx of 270,000 ETH, equivalent to slightly above $505 million at present ETH exchange rates.
Back on July 14, 2023, about 10.38 million ETH was secured in these platforms, a figure that experienced a surge to 10.65 million by July 29. Lido Finance continues its reign over these 23 liquid staking applications, claiming 74.31% of the market share.
Two weeks ago, Lido held 7.71 million ether within its infrastructure, a figure which has since climbed to 7.91 million. Coinbase, with its grip on 10.99% of the liquid-staked ETH market share, saw its ether reserves expand from 1.14 million to the present 1.17 million.
In parallel, Rocket Pool has experienced an uptick in the past two weeks, with its ether holdings growing from 830,039 ETH to a current total of 857,967 ETH. At present, Rocket Pool’s hold on the 10.65 million market share amounts to 8.06%.
Frax Ether likewise witnessed an upward trajectory, rising from an initial 238,197 Ether to 243,819. Stakewise recorded modest growth in its ETH holdings, escalating from 92,326 to 93,225. Additionally, Binance Pool’s ether cache grew from 91,834 to its present standing at 92,824 ETH.
Despite not having breached the 100,000 threshold, both Binance Pool and Stakewise are teetering on the brink of that figure. Over the past month, Binance Pool emerged as the forerunner with 29.20% growth. In the past week, among the leading five liquid staking platforms, Lido claimed the top position in terms of weekly gains, escalating 1.75%.
Beyond the leading five, Swell experienced a 6.08% uptick over the past week, while Stader witnessed a 40.54% surge. Conversely, Ankr declined by 10.52%, and the liquid staking platform Stafi experienced a 5.93% reduction.
Lido’s staking derivative generates the token staked ether (STETH), and as of Saturday, this token is held by 233,229 distinct ETH addresses. Of these wallets, the top ten STETH addresses possess 53.30% of the entire supply. The top 100 STETH wallets, as of this writing, control a commanding 69% of the total STETH supply.
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