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Staked Ether Rises to $20B With Lido in Lead: IntoTheBlock

Published 11/17/2023, 10:02 PM
Updated 11/17/2023, 10:15 PM
Staked Ether Rises to $20B With Lido in Lead: IntoTheBlock
ETH/USD
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  • IntoTheBlock report stated that Ethereum’s liquid staking market has grown with more protocols and users.

  • Over $20 billion is staked on Ethereum as of November, driven by a boost that started after the Shapella upgrade in April.

  • Lido continues to lead the liquid staking market, with Rocket Pool in second place.

In its latest analysis, data analytics platform IntoTheBlock noted that the liquid staking market within the Ethereum ecosystem continues to grow with new entrants and a booming user base.

The report stated that the liquid staking tokens (LST) market has developed into a key part of the cryptocurrency market. As of November 2023, IntoTheBlock said approximately $20 billion is being staked via Ethereum LSTs.

According to the report, Lido’s stETH remains the leading liquid token despite growing competition within the space. The report mentioned that the Ethereum Shapella upgrade, which introduced staking withdrawals in April 2023, aided the competitive boom in the liquid staking landscape.

Before the upgrade, IntoTheBlock noted that Lido held over 90% of the liquid staking token market share. However, since then, new entrants have seized ar…

The post Staked Ether Rises to $20B With Lido in Lead: IntoTheBlock appeared first on Coin Edition.

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