Liquid staking has emerged as a popular decentralized finance method, with protocols holding the largest total value in DeFi today. However, recent data shows that the amount of ether locked in liquid staking platforms has decreased over the past month. On October 28, these protocols collectively held 14.08 million ETH, but this figure has dropped to 13.85 million, reflecting an outflow of 230,000 ETH valued at $844 million.
The combined value of ether locked in these platforms is currently $49.837 billion, with Lido holding the majority at 9.8 million ETH, worth $35.216 billion. Binance’s liquid staking platform now controls 1.72 million ETH, valued at $6.18 billion. In contrast, Rocket Pool experienced a significant decline in holdings, with a massive outflow of 479,374 ETH leaving it with 750,626 ether today.
Among the 31 different liquid staking protocols, the top three players – Lido, Binance, and Rocket Pool – account for 88.62% of the total ether locked. Beneath these leaders, several platforms hold varying amounts of ether, with some managing less than 167,000 ETH. This demonstrates the competitive nature of liquid staking, with dominance concentrated among a few major players.
While Binance and Lido saw inflows over the past month, Rocket Pool’s outflows highlight the trust and participation dynamics at play in the DeFi space. The shifts in holdings reflect the constantly evolving landscape of liquid staking, showcasing the importance of staying competitive and maintaining trust among users.
Overall, liquid staking continues to be a favored method in the DeFi space, with protocols offering users the opportunity to earn rewards on their ether holdings while participating in network validation. As the industry continues to evolve, it will be interesting to see how these major players adapt to changing market conditions and user preferences to maintain their positions in the liquid staking ecosystem.
