Lido Achieves 9 Million Ethereum Milestone as Rocket Pool Surpasses 1 Million in Defi’s Booming Staking Sector

Recent data reveals that Lido, the leading liquid staking protocol (LSP), now holds over 9 million ethereum within its system. This figure represents a significant 77.81% of the total ethereum value locked in current LSPs, underscoring Lido’s dominant position in the market.

Lido and Rocket Pool Reach New Heights with 9 Million and 1 Million Ether Milestones

The industry of liquid staking, now valued in the billions, is led by Lido, the leading liquid staking protocol in today’s decentralized finance (defi) landscape. Liquid staking, at its core, involves staking tokens while the assets remain “liquid” or “unlocked,” allowing for diverse applications. This method allows stakers to earn rewards while maintaining access to their funds.

For an extended period, Lido has been at the forefront of this market, and on November 21, 2023, it reached a significant milestone by surpassing 9 million in ether deposits. As of December 3, 2023, Lido holds a substantial 9.28 million ethereum (ETH) in deposits. In the preceding 36 days, dating back to October 27, 2023, the platform saw an influx of 490,000 ether.

The current total value locked (TVL) in the protocol is estimated at $20.05 billion, based on prevailing exchange rates. Among the 25 liquid staking protocols (LSPs), Lido accounts for a commanding 77.81% of the market share. The second-largest player, Rocket Pool, recorded a deposit of 49,214 ether in the same 36-day period.

Additionally, Rocket Pool recently celebrated a significant achievement, surpassing the 1 million ETH mark in TVL. While Lido and Rocket Pool observed deposits of 490,000 and over 49,000 ether respectively, Binance’s LSP experienced a more modest increase of 3,459 ETH since October 27.

In the realm of staking token derivatives, Lido’s STETH ranks among the top ten crypto assets on some market aggregation platforms, such as coingecko.com, although it’s not listed in the top ten on coinmarketcap.com. Were STETH to be recognized among the top ten crypto assets today, its market capitalization would rank it as the eighth largest.

Meanwhile, Rocket Pool’s RETH token is currently positioned as the 52nd largest among more than 10,000 listed crypto assets. Moreover, LSPs account for more than 52% of the TVL in defi today, according to defillama.com. Lido and Rocket Pool’s milestones highlight that together, these protocols now control a combined total of 10 million in locked ether worth $22.28 billion.

What do you think about Lido crossing the 9 million mark and Rocket Pool surpassing 1 million ether? Share your thoughts and opinions about this subject in the comments section below.