While liquid staking protocols experienced a brief period of withdrawals, the past 12 days have seen liquid staking derivatives (LSDs) platforms gain 110,000 ether valued at $417.59 million.
Swell Experiences Decline as Lido and Others See ETH Increases
In the realm of decentralized finance (defi), liquid staking derivatives (LSDs) have finally recorded positive deposits after several weeks of reductions. The ETH held by LSDs almost fell below the 13 million threshold, reaching a low of 13.04 million ether. Today, these platforms hold 13.15 million ether, with an estimated value of $50.29 billion.
Twelve days ago, Lido had 9.36 million ETH, and now the LSD holds 9.51 million ETH, accounting for 72.31% of the market share. The data indicates that Lido attracted a significant portion of the deposits, with 150,000 ETH added over this period. Rocket Pool’s ETH holdings remained constant over nearly two weeks. Binance’s staked ETH program saw a modest rise from 896,471 to 896,580 ether.
Mantle’s LSD platform noted a slight increase from 476,223 to 473,818 ETH. However, Swell experienced a reduction, dropping from 190,087 ETH to 181,863 ETH over the past 12 days. Several other LSDs saw outflows, resulting in net inflows of approximately 110,000 ether, valued at an estimated $417.59 million.
The recent rise in LSDs, with an impressive 110,000 ether influx, may be signaling renewed confidence in the liquid staking defi sector. Lido’s significant growth, capturing over 72% of the market share, continues to underscore its dominant position among competitors. However, Swell’s continued decline serves as a reminder of the ongoing outflows.
What do you think about the recent ether inflows? Share your thoughts and opinions about this subject in the comments section below.
