Recent data reveals a notable increase in ether deposits across liquid staking platforms over the past week, with a total of 110,000 ETH, equivalent to $292 million, flowing into these decentralized finance (DeFi) protocols.
Lido, the leading liquid staking platform, has seen its ether reserves rise from 9.81 million ETH to 9.82 million ETH, a gain of 10,000 ETH. This increase solidifies Lido’s dominant position, holding 71.67% of the market share for locked ETH. In contrast, Rocket Pool’s holdings remained stable at 1.18 million ETH, although its percentage increase over the last 30 days stands at a modest 1.08%.
Significantly, Binance’s Staked ETH protocol captured 88.27% of the new deposits, driving its ether reserves from 912,902 ETH to over 1 million ETH. This milestone marks a major achievement for Binance, positioning it prominently within the liquid staking market.
Mantle also experienced growth, with its ether supply rising by 18,718 ETH, from 488,734 ETH to 507,452 ETH. Despite these increases, the overall influx was tempered by outflows from smaller liquid staking platforms. Coinbase saw a minor reduction of 90 ETH, while Frax and Stakestone faced more substantial declines, losing 1,849 ETH and approximately 6,106 ETH, respectively.
These developments underscore a competitive and evolving landscape in liquid staking, with major players solidifying their positions as smaller platforms encounter challenges.
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