Ethereum Liquid Staking Surges to 14M Ether, 90,000 Added in 12 Days
According to recent data, more than 14 million ether (ETH) is now locked in liquid staking derivatives (LSD) protocols.
As of September 29, 2024, over 14 million ether (ETH) is now locked in liquid staking derivatives (LSD) protocols, according to recent data.
Over the past 12 days, the amount of ETH deposited into these platforms has nudged upward by 0.643%, bringing the total to 14.08 million ETH. Specifically, around 90,000 ETH has flowed into LSD apps since September 17, 2024, increasing from 13.99 million to the current 14.08 million ETH.
While a 0.643% uptick may seem small, it has pushed the total ETH in staking protocols over the 14 million mark, achieving a significant milestone.
At the start of 2024, decentralized finance (DeFi) protocols held 12.31 million ether, which was valued at $27.49 billion at the time. This means that in 2024 alone, an additional 1.77 million ETH (roughly $4.68 billion) has been funneled into DeFi staking protocols.
By September 29, 2024, the combined value of the 14.08 million ETH had swelled to $37.33 billion. As a result, LSDs now hold 11.69% of Ethereum’s $319.28 billion market cap.
Among the LSD platforms, Lido continues to lead the pack, controlling 69.59% of the LSD market with 9.8 million ETH as of September 29. At the beginning of the year, Rocket Pool claimed the second spot among LSD platforms, boasting 1.09 million ETH on January 6, 2024.
However, Binance’s LSD platform has now taken over the second place position, pushing Rocket Pool to third. Binance’s LSD commands 1.42 million ETH, representing 10.10% of the market share, while Rocket Pool holds 1.22 million ETH, securing 8.63% of the LSD reserves.
Throughout 2024, the growth of LSD platforms has signaled a steady yet impactful shift in Ethereum’s staking ecosystem. Platforms like Lido, Binance, and Rocket Pool continue to amass more ether, showcasing their growing dominance.
At present, these three LSD giants—Lido, Binance, and Rocket Pool—control 88.32% of the 14.08 million ETH held across all platforms.
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