{"id":19734,"date":"2023-02-07T07:50:51","date_gmt":"2023-02-07T15:50:51","guid":{"rendered":"https:\/\/coinnetworknews.com\/ethereum-liquid-staking-trend-continues-to-swell-5-platforms-control-97-of-market-defi-bitcoin-news\/"},"modified":"2023-02-07T07:50:51","modified_gmt":"2023-02-07T15:50:51","slug":"ethereum-liquid-staking-trend-continues-to-swell-5-platforms-control-97-of-market-defi-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/ethereum-liquid-staking-trend-continues-to-swell-5-platforms-control-97-of-market-defi-bitcoin-news\/","title":{"rendered":"Ethereum Liquid Staking Trend Continues to Swell; 5 Platforms Control 97% of Market \u2013 Defi Bitcoin News"},"content":{"rendered":"
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As of Feb. 7, 2023, the value locked in 11 Ethereum-based liquid staking protocols has risen above $11 billion, with Lido, Coinbase, and Rocket Pool recording 4-10% gains over the past month. Lido holds more than 73% of the total value locked (TVL) out of the 6.87 million ether held by the 11 liquid staking platforms. More than 15% of the liquid staking TVL is being staked with Coinbase\u2019s wrapped ether.<\/strong><\/p>\n

Lido Leads the Pack With 73% of Total Value Locked in Ethereum Liquid Staking Industry<\/h2>\n

Staking Ethereum has become a highly sought-after trend since its introduction on the network\u2019s Beacon chain. The Beacon chain contract has 16.47 million ether locked, worth $26 billion, that cannot be withdrawn until the upcoming March hard fork. A significant portion of this locked ether is held within liquid staking protocols, as 11 decentralized finance (defi) protocols hold 41% of the total, or 6.87 million ether.<\/p>\n

\"Ethereum
Total value locked on Ethereum-based liquid staking platforms on Feb. 7, 2023.<\/figcaption><\/figure>\n

Liquid staking involves exchanging ether for tokenized versions of ether. This allows holders to earn rewards while still having a liquid form of the coin that they can sell at any time without relying on a custodian. The staked ether is held within various protocols, and the platforms handle the exchange for minting and redemption processes. Out of the 41%, which is valued at more than $11 billion, Lido holds 73% of the total value locked (TVL). Lido\u2019s TVL saw a 4.27% increase last month, and its value locked is around $8.18 billion today.<\/p>\n

\"Ethereum
Top five liquid staking platforms on Feb. 7, 2023.<\/figcaption><\/figure>\n

Coinbase\u2019s wrapped ether has 1,081,304 ethereum (ETH<\/a>) locked into the platform and the TVL has gained 5.74% last month. The Coinbase wrapped ether platform TVL is 15.72% of the market share and the stash is worth $1.76 billion. The next two largest liquid staking platforms saw the biggest gains over the last month out of the top five projects. Rocket Pool\u2019s TVL climbed 10.71% in 30 days and during the same time frame, Frax Ether\u2019s TVL increased by 76.73%. Rocket Pool has around 387,016 ETH<\/a> locked and Frax Ether has a total of 87,134 ether.<\/p>\n

Stakewise is the fifth-largest liquid staker, with 84,481 ether locked on Feb. 7, 2023, valued at $136 million. Frax Ether holds a 1.27% market share, while Stakewise holds 1.23% of the 6.87 million ether. The other six decentralized finance liquid staking platforms hold a mere 2.6% of the $11 billion in value, while the top five liquid stakers control 97.4%.<\/p>\n

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What do you think about the continued growth of Ethereum Liquid Staking protocols? Share your thoughts in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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