ethereum liquid staking platforms are making waves in the decentralized finance (DeFi) ecosystem. Recent on-chain reports have revealed that liquid staking protocols have recorded a new milestone in the amount of Ether (eth) staked, reaching the staggering 12 million eth mark in just a few days.
ethereum liquid bet gains momentum
With ethereum 2.0 thriving, ethereum-staking-service-70-staked-eth-supply/” rel=”nofollow”>liquid betting protocols in the DeFi ecosystem have been growing rapidly despite recent market volatility.
Research data from DeFi TVL aggregator Defillama on Monday, September 25, revealed the tremendous growth of ethereum holdings on liquid staking platforms. According to the data, the eth in crypto-enhancing-profitability-and-liquidity/” rel=”nofollow”>liquid betting protocols has increased to approximately 12.31 million and may continue to increase.
Reports found that a staggering 370,000 eth were staked in just five days, allowing liquid staking protocols to reach their current mark of 12 million. Liquid betting platforms like PoolRocket Pool, Coinbase, and Binance are among the list of prominent protocols that led to the recent surge in Ether staking.
According ethereum” rel=”nofollow”>Defillama TVL Ranking, Lido ranks first for the amount of ethereum staked with a TVL of $13.997 billion in liquid stakes. The protocol secured more than 8 million Ether on September 20, and another 30,000 later.
<img decoding="async" class="alignnone size-medium wp-image-552936 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2023/09/Ethereum-Liquid-Staking-Protocols-Reach-New-Milestone-After-Massive-Inflows.png" alt="Lido Funds Liquid ethereum Staking” width=”460″ height=”244″ srcset=”https://www.newsbtc.com/wp-content/uploads/2023/09/Screenshot-2023-09-26-at-13.50.33.png?w=3010 3010w, https://technicalterrence.com/wp-content/uploads/2023/09/Ethereum-Liquid-Staking-Protocols-Reach-New-Milestone-After-Massive-Inflows.png 460w, https://www.newsbtc.com/wp-content/uploads/2023/09/Screenshot-2023-09-26-at-13.50.33.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/09/Screenshot-2023-09-26-at-13.50.33.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/09/Screenshot-2023-09-26-at-13.50.33.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/09/Screenshot-2023-09-26-at-13.50.33.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2023/09/Screenshot-2023-09-26-at-13.50.33.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/09/Screenshot-2023-09-26-at-13.50.33.png?w=1140 1140w” sizes=”(max-width: 460px) 100vw, 460px” loading=”lazy” data-recalc-dims=”1″/>
Lido Finance dominates eth liquid staking | Source: DeFiLlama
ethereum-staking-yields-to-double-post-merge/” rel=”nofollow”>Coinbase It currently ranks second in Defillama’s TVL ranking, with approximately $2.155 million, a significant gap from Lido’s TVL.
Coinbase currently has around 1.3 million Ether in its reserve. While Rocket Pool occupies the third position in the TVL rankings and has increased its Ether holdings from 940,496 to 945,402.
Binance Liquid Staking Platform Takes the Lead
Binance’s liquid staking platform has been the driving force behind the recent surge in ether influx into liquid staking protocols in the DeFi ecosystem.
Binance has reportedly added a surprising amount of ether to its already substantial ether reserves. The liquid staking platform that previously recorded 445,000 eth in its reserve, added 318,605 eth and now has 764,105 eth. Research data has revealed that Binance accumulated a considerable amount of eth tokens to back its staking token, Wrapped Beacon eth (WBETH).
In the last three months, the DeFi ecosystem recorded a liquid participation valuation over $20 billion evaluating various protocols in the DeFi ecosystem. Following this, September data from Defillama revealed that liquid staking protocols now have $20.5 billion in assets, a staggering 293% increase from previous lows in June 2022.
Although the key protocols driving the surge are Lido, Binance, and Rocket Pool. Other upcoming liquid betting protocols like Davos and InQubeta persist, driven by the ethereum 2.0 upgrade and investors wish to maximize their profits through ethereum staking.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/09/Ethereum-Liquid-Staking-Protocols-Reach-New-Milestone-After-Massive-Inflows" alt="Tradingview.com ethereum Price Chart (eth Liquid Stake)” width=”2884″ height=”1746″ loading=”lazy”/>
eth price at $1,587 as liquid staking surges | Source: ETHUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com
