Last updated on October 5, 2023
Since 2020, the market for liquid staking on the Ethereum blockchain has experienced significant growth. As of October 2023, there are 23 liquid staking derivatives (LSD) platforms that collectively hold 12.4 million ether, with a value exceeding $20 billion. Among these platforms, the top three protocols – Lido, Rocket Pool, and Coinbase’s Wrapped ETH – dominate the market, accounting for a staggering 89.18% share of the locked ether.
Liquid staking derivatives allow users to stake their ETH in a liquid form, providing them with flexibility and liquidity while earning rewards. Lido Finance, established in 2020, is the largest LSD holder, with 8.79 million ETH in its possession. The total market share of LSD tokens held by these top three platforms indicates the growing popularity of liquid staking in the Ethereum ecosystem.
#Keywords: liquid staking, Ethereum, LSD platforms, Lido, Rocket Pool, Coinbase, staked ether, STETH, CBETH, RETH, decentralized finance, defi
#Hashtags: #Ethereum #LiquidStaking #Lido #RocketPool #Coinbase #StakedEther #STETH #CBETH #RETH #DeFi
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