Liquid staking protocol Lido said its Ethereum staking on the Beacon Chain reached 5.05 million ($8.32 billion).
LDO rose 18% to $2.45 in the past 24 hours, according to CryptoSlate data. The token is up 16% in the previous seven days and 25% in the last 30 days.
Lido dominates liquid staking
On February 6, Lido said that its betting deposits grew across all chains except Kusama, which has declined in the past two weeks.
The total value of assets locked (TVL) on the Lido rose 5.5% over the past seven days to $8.48bn, the majority in ETH, according to data aggregator DeFillama.
Lido’s website shows that $8.32 billion was staked on Ethereum through its platform. Other assets, such as Polygon (MATIC), Solana (SOL), Kusama (KSM) and Polkadot (DOT) have a combined value of $155.06 million.
Pool saying its February incentives of 1.95 million LDO tokens were already active.
Meanwhile, Lido remains the dominant share service provider, controlling 29.3% of the market. The protocol also works as the dominant DeFi protocol, with around 17.31% of the market.
Frax Ethereum arises
Frax Ethereum’s (frxETH) TVL has risen roughly 77% in the past month to $144 million, according to data from DeFillama.
frxETH supply grew by 70,000 ETH in three months, making it 4th largest ETH liquid derivative (LSD), Blockchain analytics firm Nansen reported.
Meanwhile, CryptoSlate The data shows that the ecosystem’s native Frax Share (FXS) token has benefited from the increased interest. FXS is up about 30% in the last 24 hours to $13.06 and is up 120% in the last 30 days.
