According to the most recent data, within the last 22 days, the volume of staked ether locked across various liquid staking derivative token platforms has seen a decline of 2.45%. This downward trend was observed across 27 unique platforms, culminating in a reduction of 340,000 ETH, valued at approximately $1.18 billion.
In 22 Days, Liquid Staking Platforms Witness a 340,000 ETH Decline
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$1.18 Billion Worth of Ether Unstaked
Since July 13, 2023, liquid staking platforms have experienced a notable increase, with 3.15 million ether funneled into 27 distinct protocols. However, the last month has observed a noteworthy withdrawal of funds. Specifically, on March 10, 2024, liquid staking derivative (LSD) platforms boasted 13.87 million ether in deposits, a figure that has since dwindled to 13.53 million. This represents a decrease of 340,000 ETH, or 2.45%, over the course of 22 days.
Looking closer, Lido, the frontrunner among LSD protocols, saw its ether holdings decrease from 9.85 million to 9.65 million in this timeframe. This movement accounts for 58.82% of the total reduction, equaling 200,000 ether extracted from the leading LSD service. Despite this setback, Lido’s share of the total LSD market remains substantial at 71.35% of the 13.53 million ether aggregate. Currently, Lido utilizes 297,920 validators.
Meanwhile, Rocket Pool maintained its position, safeguarding 1.13 million ether without change. Rocket Pool oversees approximately 25,070 validators. Conversely, Binance witnessed a slight uptick in its holdings, growing from 891,881 to 896,181 ETH. Additionally, Mantle, Frax, Stakestone, and Swell have also registered declines over both seven-day and thirty-day periods. As of the latest update, the number of ETH validators stands at 979,020.
What do you think about the 340,000 ether unstaked over the past 22 days? Let us know what you think about this subject in the comments section below.
