Following the Shapella hard fork on April 12, 2023, approximately 332,368 ether were withdrawn, valued at around $699 million. Despite these withdrawals, liquid staking protocols like Lido, Rocketpool, and others have seen an increase in ether deposits in the last 30 days. Since March 14, a total of 281,498 ether worth $592 million have been added to these protocols.
TVL on Ether accounts staked for more than 30% of Defi locked value, led by Lido
As of April 15, 2023, there are $53.68 billion total value locked (TVL) in various decentralized finance (defi) protocols. About $16.96 billion or 31% of today’s TVL defi is in ether staked. Lido’s TVL sits at approximately $12.74 billion, representing 23.74% of defi’s locked value. The increase in the price of Ethereum (ETH)above the $2,100 per unit range, along with deposits into ETH-based liquid staking protocols have contributed to an increase in the value of these platforms.
For example, the Lido TVL has grown by 18.02% in the last 30 days; Coinbase’s liquid staking protocol has risen 16.51% in the same period. Rocketpool’s TVL increased 22.48%, while Stakewise expanded 15.83%. archive data of March 14, 2023, shows that 7,749,372 ETH they were locked into liquid betting platforms; As of April 15, that number is up to 8,030,870ETH – an addition of 281,498 ether in just one month.
Simultaneously, since the integration of the Shapella hard fork, a total of 332,368 ether has been removed from the validator queue. Current pending withdrawals represent approximately 1.48 million ethers in funds. The annual percentage rate (APR) for gambling ETH currently sits around 4.98% today. Currently, the Beacon chain contract has 18,386,887 ETHvalued at 38.670 million dollars.
Approximately 81% of ETH validators have updated their withdrawal addresses, while 18.5% have not, according to Nansen’s Statistics. The three entities with the highest number of withdrawals are Kraken, Binance and Coinbase. Kraken and Coinbase are speculated to have initiated a large portion of these withdrawals due to issues with US regulators regarding liquid staking protocols.
What do you think the future holds for liquid stake protocols? Will its growth continue, or will regulatory concerns and market volatility affect its popularity in the coming months? Share your thoughts in the comments section below.
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