30% of Ethereum Staked Today Tied to Lido Liquid Staking, 8 ETH 2.0 Pools Command $8.1 Billion in Value Blockchain Bitcoin News

[ad_1]

In about three days, Ethereum is expected to transition from a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) version through The Merge. Prior to the transition, the Lido liquid staking project saw much more activity, with the value locked in the protocol increasing by more than 13% this week. Additionally, the project’s lido dao governance token has risen 25.4% against the US dollar in the past seven days.

Lido TVL jumps 13% this week, project-wrapped ether accounts for over 30% of staked Ethereum

Last week, Bitcoin.com News reported on decentralized finance (defi) project Lido as the project began to see more demand ahead of The Merge. Lido Finance is a liquid staking project that allows people to wrap their crypto assets to collect a staking yield, but the process also allows owners to hold the assets non-custodially and also be able to trade them.

Lido offers liquid staking solutions for blockchains like Ethereum, Solana, Polygon, Polkadot, and Kusama. However, most of the value locked in Lido comes from locked Ether, as ETH accounts for $7.61 billion of Lido’s total locked value (TVL) of $7.81 billion.

30% of Ethereum staked today is tied to Lido liquid staking, 8 ETH 2.0 pools command $8.1 billion in value

Over the past seven days, measurements from defillama.com indicate that Lido’s TVL has inflated by 13.08% and TVL has increased by 2.43% over the past 24 hours. While Makerdao is the largest defi protocol today, in terms of TVL stats, Lido is the second largest defi protocol on 9/11.

The ether locked in the Lido app alone accounts for 12.60% of the $60.38 billion TVL in challenge today. Lido-wrapped ether-derived token, STETH, is the 13th-largest market cap out of 12,907 tokens worth $1.1 trillion. The Lido governance token, lido dao (LDO), has risen 25.4% over the past two weeks.

Three major exchanges and 8 Ethereum 2.0 pools

Data from Dune Analytics shows that Lido is the largest depositor in the Beacon chain with 30.3% of deposits coming from Lido Finance. Coinbase is second to Lido with 14.5% of Beacon chain deposits and Kraken controls 8.3%.

Coinbase recently launched a liquid staking token called coinbase wrapped ethereum (CBETH), and in mid-August, a JPMorgan market analyst said Coinbase could be a big beneficiary of the Ethereum merger transition. At press time, there are 13,638,351 ether locked in the ETH 2.0 contract and there are 426,198 validators. 30.49% of the 13.6 million ETH staked is staked via Lido Finance.

30% of Ethereum staked today is tied to Lido liquid staking, 8 ETH 2.0 pools command $8.1 billion in value

Besides massive exchanges like Coinbase, Kraken, and Binance, Lido competes with Stkr, Sharedstake, Stafi, Stakewise, Cream, Stakehound, and Rocketpool. Between Lido, Rocketpool, Stakehound, Stakewise, Stafi, Sharedstake, and Stkr, there’s around $8.11 billion in value.

While Lido controls 30.49% of the ETH staked, the aforementioned ETH 2.0 pools account for 33.11% of the ether staked today. There are 4,585,038 locked ethers held between the eight ETH 2.0 pools today.

Keywords in this story

13 Million Ether, Binance, CBETH, Coinbase, Coinbase Wrapped Ether, ETH 2.0, ETH 2.0 Contract, ETH Liquid Staking, ETH Staking, Kraken, LDO, Lido, Lido Finance, Lido Wrapped Ether, Liquid Staking, ETH Liquid Staking , Rocketpool, Sharedstake, Stafi, Staked ETH, Stakehound, Stakewise, staking, STETH, Stkr, Validators

What do you think of the recent action of Lido Finance and the amount of ether eight pools held? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Manager at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.




Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



[ad_2]

Source link

Recent Articles

Terra Luna

Wolverine Coin

TABOO TOKEN

Crypto Heirloom

spot_img

Related Stories

Stay on op - Ge the daily news in your inbox

bitcoin
Bitcoin (BTC) $ 17,245.65
ethereum
Ethereum (ETH) $ 1,297.33
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 295.81
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.394627
dogecoin
Dogecoin (DOGE) $ 0.10489
cardano
Cardano (ADA) $ 0.325297
matic-network
Polygon (MATIC) $ 0.934216
polkadot
Polkadot (DOT) $ 5.70
staked-ether
Lido Staked Ether (STETH) $ 1,284.47
litecoin
Litecoin (LTC) $ 78.03
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 22.00
dai
Dai (DAI) $ 1.00
solana
Solana (SOL) $ 14.08
tron
TRON (TRX) $ 0.053467
uniswap
Uniswap (UNI) $ 6.39
avalanche-2
Avalanche (AVAX) $ 14.17
chainlink
Chainlink (LINK) $ 7.54
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 17,225.29
leo-token
LEO Token (LEO) $ 3.80
cosmos
Cosmos Hub (ATOM) $ 10.47
ethereum-classic
Ethereum Classic (ETC) $ 19.83
the-open-network
The Open Network (TON) $ 1.81
monero
Monero (XMR) $ 144.17
stellar
Stellar (XLM) $ 0.088591
bitcoin-cash
Bitcoin Cash (BCH) $ 112.32
quant-network
Quant (QNT) $ 131.92
crypto-com-chain
Cronos (CRO) $ 0.072454
algorand
Algorand (ALGO) $ 0.24483
filecoin
Filecoin (FIL) $ 4.61
apecoin
ApeCoin (APE) $ 4.23
near
NEAR Protocol (NEAR) $ 1.76
vechain
VeChain (VET) $ 0.019456
internet-computer
Internet Computer (ICP) $ 4.51
hedera-hashgraph
Hedera (HBAR) $ 0.048889
flow
Flow (FLOW) $ 1.14
terra-luna
Terra Luna Classic (LUNC) $ 0.000178
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.63
eos
EOS (EOS) $ 0.939366
frax
Frax (FRAX) $ 1.00
trust-wallet-token
Trust Wallet (TWT) $ 2.44
the-sandbox
The Sandbox (SAND) $ 0.599265
aave
Aave (AAVE) $ 65.75
tezos
Tezos (XTZ) $ 1.02
chiliz
Chiliz (CHZ) $ 0.169746
theta-token
Theta Network (THETA) $ 0.899471
lido-dao
Lido DAO (LDO) $ 1.12
huobi-token
Huobi (HT) $ 6.79
chain-2
Chain (XCN) $ 0.038297
bitcoin-sv
Bitcoin SV (BSV) $ 42.55
true-usd
TrueUSD (TUSD) $ 1.00
axie-infinity
Axie Infinity (AXS) $ 7.14
paxos-standard
Pax Dollar (USDP) $ 1.00
decentraland
Decentraland (MANA) $ 0.414604
usdd
USDD (USDD) $ 0.982905
aptos
Aptos (APT) $ 5.41
bittorrent
BitTorrent (BTT) $ 0.00000070362552
pancakeswap-token
PancakeSwap (CAKE) $ 4.04
kucoin-shares
KuCoin (KCS) $ 6.60
fantom
Fantom (FTM) $ 0.247354
tokenize-xchange
Tokenize Xchange (TKX) $ 7.78
zcash
Zcash (ZEC) $ 46.66
gemini-dollar
Gemini Dollar (GUSD) $ 1.00
iota
IOTA (MIOTA) $ 0.215438
maker
Maker (MKR) $ 655.11
klay-token
Klaytn (KLAY) $ 0.192699
compound-usd-coin
cUSDC (CUSDC) $ 0.022715
whitebit
WhiteBIT Token (WBT) $ 4.82
ecash
eCash (XEC) $ 0.00003
gatechain-token
Gate (GT) $ 3.64
dash
Dash (DASH) $ 45.82
osmosis
Osmosis (OSMO) $ 1.00
neo
NEO (NEO) $ 6.97
pax-gold
PAX Gold (PAXG) $ 1,795.73
the-graph
The Graph (GRT) $ 0.064898
arweave
Arweave (AR) $ 9.38
gmx
GMX (GMX) $ 54.77
compound-ether
cETH (CETH) $ 26.02
btse-token
BTSE Token (BTSE) $ 2.77
mina-protocol
Mina Protocol (MINA) $ 0.58587
curve-dao-token
Curve DAO (CRV) $ 0.6818
ethereum-pow-iou
EthereumPoW (ETHW) $ 4.04
havven
Synthetix Network (SNX) $ 1.80
cdai
cDAI (CDAI) $ 0.02212
tether-gold
Tether Gold (XAUT) $ 1,718.51
thorchain
THORChain (RUNE) $ 1.39
rocket-pool
Rocket Pool (RPL) $ 20.82
nexo
NEXO (NEXO) $ 0.692031
ethereum-name-service
Ethereum Name Service (ENS) $ 14.40
immutable-x
ImmutableX (IMX) $ 0.509013
radix
Radix (XRD) $ 0.035652
frax-share
Frax Share (FXS) $ 4.96
basic-attention-token
Basic Attention (BAT) $ 0.236265
zilliqa
Zilliqa (ZIL) $ 0.023157
celo
Celo (CELO) $ 0.718411
blockstack
Stacks (STX) $ 0.252412
1inch
1inch (1INCH) $ 0.503177