crypto exchangeBinance Dominates Liquid Staking Market as Ether Deposits Surge

Binance Dominates Liquid Staking Market as Ether Deposits Surge

Recent data reveals a notable increase in ether deposits across liquid staking platforms over the past week, with a total of 110,000 ETH, equivalent to $292 million, flowing into these decentralized finance (DeFi) protocols.

Lido, the leading liquid staking platform, has seen its ether reserves rise from 9.81 million ETH to 9.82 million ETH, a gain of 10,000 ETH. This increase solidifies Lido’s dominant position, holding 71.67% of the market share for locked ETH. In contrast, Rocket Pool’s holdings remained stable at 1.18 million ETH, although its percentage increase over the last 30 days stands at a modest 1.08%.

Significantly, Binance’s Staked ETH protocol captured 88.27% of the new deposits, driving its ether reserves from 912,902 ETH to over 1 million ETH. This milestone marks a major achievement for Binance, positioning it prominently within the liquid staking market.

Mantle also experienced growth, with its ether supply rising by 18,718 ETH, from 488,734 ETH to 507,452 ETH. Despite these increases, the overall influx was tempered by outflows from smaller liquid staking platforms. Coinbase saw a minor reduction of 90 ETH, while Frax and Stakestone faced more substantial declines, losing 1,849 ETH and approximately 6,106 ETH, respectively.

These developments underscore a competitive and evolving landscape in liquid staking, with major players solidifying their positions as smaller platforms encounter challenges.

Related Topics:

Share This Post

Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

Related Posts

Bitcoin Tumbles Amid Trump’s Tariff War, Inflation Fears Intensify

Bitcoin’s recent price swings have been driven by the...

Bitcoin Faces Critical Test as Analysts Warn of Potential Market Collapse

Bitcoin’s recent downturn has raised alarms among analysts, with...

Dogecoin Struggles Amid Crypto Slump Despite Trump-Era Optimism

Dogecoin, the original memecoin, surged following President Donald Trump’s...

How Do You Get Level 3 on Coinbase?

Cryptocurrency trading has become increasingly popular over the last...

What is Level 2 Coinbase?

In the world of cryptocurrency, where thousands of digital...

Kaito Price Soars 26% Following Upbit Listing Amid Growing Exchange Presence

Kaito (KAITO) experienced a notable 26% surge in value,...