Based mostly on the newest knowledge, liquid staking platforms have skilled one other uptick in deposited ether over the previous week. Inside this timeframe, 110,000 ether, valued at $292 million, has flowed into these decentralized finance (defi) protocols.
Binance’s Large Transfer: 88% of 110,000 ETH Influx Flowed Into Staked Ether Protocol
Liquid staking protocols proceed to draw deposits, with the previous seven days seeing an addition of 110,000 ethereum (ETH) throughout varied defi platforms. Final week, Lido held 9.81 million ether, and at the moment, that determine has ticked as much as 9.82 million—a acquire of 10,000. At the moment, Lido’s stash accounts for 71.67% of the market share of locked ETH. In the meantime, Rocket Pool noticed little change over the week, sustaining its provide at 1.18 million ETH.
Rocket Pool’s share enhance over the previous 30 days, nevertheless, stands at 1.08%. A considerable portion of the 110,000 ETH deposited—88.27% to be exact—flowed into the Binance Staked Eth protocol. Binance’s ether holdings climbed from 912,902 to a formidable 1.01 million, with the agency’s liquid staking protocol efficiently crossing the 1 million threshold.
From Aug. 10 to Aug. 18, 2024, Binance’s Staked Ether platform noticed an influx of 97,098 ethereum (ETH).
Mantle additionally loved an uptick, with its ether provide climbing by 18,718 ETH, shifting from 488,734 ETH to 507,452 ETH. Though these protocols recorded vital inflows, the general determine was dampened by outflows from smaller liquid staking protocols.
For instance, Coinbase noticed a modest drop of 90 ether, however Frax’s platform skilled a sharper decline, dropping 1,849 ETH since Aug. 10. Moreover, the liquid staking protocol Stakestone recorded a discount of about 6,106 ETH. The latest traits in liquid staking spotlight a dynamic and aggressive panorama the place massive platforms are persevering with to consolidate their positions as smaller gamers face challenges.
