In the last two weeks, liquid staking derivative (LSD) protocols have experienced a decline of 60,000 ether valued at over $198 million, with Lido accounting for 40,000 of the ETH withdrawn.
LSD Sector Snapshot: $198 Million Ether Withdrawn in 2 Weeks
Liquid staking has been witnessing a decrease; on April 15, 2024, the 27 distinct LSD platforms had 13.15 million ether, which has now dropped to 13.09 million ETH, currently valued at $43.01 billion. The LSD protocol Lido remains the largest holder of ETH among the LSDs, possessing 9.35 million ether, which represents 71.41% of the total market share.
Two weeks ago, Lido reported having 9.39 million ether, a figure that has since decreased by 40,000 ETH. Rocket Pool, another LSD platform, experienced a modest rise from 1.13 million to 1.14 million ETH. Binance Pool also noted a slight increase, from 896,355 ether to 896,406 ETH as of Sunday. Conversely, Mantle recorded a drop, losing about 13,001 ether since April 15, with its current holdings standing at 489,892 ETH.
Similarly, Swell’s holdings fell from 216,120 ether to 213,165 ETH. Frax’s LSD protocol also witnessed a decrease during this period. Although Rocket Pool’s additional 10,000 ETH and Binance Pool’s increase helped mitigate some overall losses, the sector still saw 60,000 ETH in two weeks, valued at over $198 million, withdrawn. Since April 1, the LSD ecosystem has seen a total exodus of 440,000 ether, worth $1.45 billion.
What do you think about the 60,000 ether unstaked over the past two weeks? Let us know what you think about this subject in the comments section below.
