Following the Shapella upgrade on April 12, 2023, the liquid staking market in Ethereum has witnessed considerable growth, with over 400,000 ether being added to 17 platforms. The total value locked (TVL) in liquid staking protocols now exceeds $16 billion. ssjddjsnaa nn
Surge in liquid staking platforms’ popularity
Since the Shapella upgrade, liquid staking protocols like Lido Finance, Coinbase’s Wrapped Staked Ether, Rocket Pool, Frax, Stakewise, and others have experienced significant expansion. Six of the top ten protocols ranked by value locked have seen gains over the past month, with four displaying double-digit growth. Lido currently dominates the market, holding 73.6% of the 8,431,605 ethereum locked in liquid staking protocols.
Data indicates that 400,735 ethereum, worth $763.6 million, has been added to the liquid staking cache since the Shapella upgrade. In the last 30 days, Lido’s TVL increased by 5.50%, while Coinbase’s liquid staking platform experienced a 0.64% decline. Rocket Pool and Frax saw their TVLs rise by 29.24% and 31.65%, respectively, while Stakewise, the fifth-largest liquid staking protocol, registered a modest 1.23% increase.
Binance enters the liquid staking market
Binance has recently launched its own liquid staking product and now ranks as the tenth-largest platform under Bitfrost. Its TVL currently stands at approximately $38.69 million, with 20,305 ether staked in the application.
Liquid staking protocols have gained traction in recent months, offering users the convenience of earning passive staking rewards while maintaining control over their assets. The addition of 400,000 ether to the liquid staking TVL within just two weeks of the Shapella upgrade highlights the growing interest and attention this sector is attracting.