- Data shows that throughout the previous 46 days, liquid staking protocols amassed an extra 290,000 ether.
- With this rise, the proportion of ETH in liquid staking protocols rose to 11.18%, or 0.24%, of the 120.2 million Ethereum units in circulation.
Changes in Liquid Staking: Frax Ether Rises, Swell Falls
Lido now holds 72.3% of the 13.44 million ether that is tied up in liquid staking methods as of the time of writing. Lido now owns 9.71 million ETH, up from 9.51 million on May 29. It looks that Lido has received 200,000 of the 290,000 ETH inflows during the last 46 days, according to data from defillama.com.
In the same time frame, 20,000 ETH were added to Rocket Pool, the second-biggest liquid staking system, bringing its total ether balance from 1.15 million to 1.17 million. Between May 29 and now, Mantle’s protocol has seen a deposit of 23,027 ETH, while Binance’s staked ETH has climbed by 13,257 ETH.
With 197,00079 coins, Frax Ether is the fifth-largest liquid staking system for Ethereum. Swell used to hold this rank, however the protocols experienced a decrease from 181,863 ETH to 167,241 ETH at this time. Swell has dropped to the ninth position among the biggest platforms for liquid staking.
With the impending introduction of spot ether exchange-traded funds (ETFs), there may be changes ahead for liquid staking systems. The distribution and growth patterns shown in these protocols may be impacted by the impending changes in market dynamics. Apart from liquid staking, staking in general uses roughly 27% of the total amount of ETH in circulation.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
