- Due to the active Ethereum 2.0 staking process, many ETH investors have turned to liquid staking derivatives such as Lido and Rocket Pool.
- Lido, Coinbase Wrapped, and Rocket Pool are the most important protocols, with over 9 million ETH locked in total.
- The total amount locked in the ETH 2.0 contract has been steadily increasing since the beginning of the year.
Total value staked for Ethereum 2.0 reaches its peak: Increased interest in ETH liquid staking protocols, Lido records 7% growth in one month.
ETH Staking Platforms Growing Rapidly
Due to the active Ethereum 2.0 staking process, many ETH investors have turned to liquid staking derivatives such as Lido and Rocket Pool. Liquid staking has gained significant popularity as an innovative method that allows ETH holders to earn returns on their assets while accessing funds for other activities.
Lido, Coinbase Wrapped, and Rocket Pool are the most important protocols, with over 9 million ETH locked in total. Lido currently maintains its dominance in the ETH liquid staking derivatives market, with a 74.46% market share and 7.54 million ETH staked.
Considering the current ETH price, this total locked value (TVL) amounts to $14.8 billion. Lido has also experienced growth of 1.86% in the past week and 7.06% in the past month. Coinbase Wrapped Stake ETH, on the other hand, has only recorded a growth of 3.06% in one week. Meanwhile, the Tranchess Ether protocol has experienced the largest growth in the previous month, increasing its locked value by over 375%.
Total Value Staked in ETH 2.0 Surpasses $46 Billion
The total amount locked in the ETH 2.0 contract has been steadily increasing since the beginning of the year. With Ethereum transitioning to a proof-of-stake (PoS) consensus mechanism, validators are required to stake their digital assets to participate in the consensus process and continue adding blocks to the blockchain. This has led to the growth of “liquid stake” derivatives and allowed ETH holders to maintain liquidity while staking their ETH.
According to data from blockchain data and information platform Glassnode, the current cumulative amount deposited into the ETH 2.0 contract is at a record level, surpassing $45 billion.
This means that over 20% of the total ETH supply is locked in the ETH 2.0 contract. The progress made so far indicates a promising future for Ethereum and Ethereum 2.0.
