2.15 million ETH injected into liquidity pledge agreement within 6 months

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The liquidity staking protocol space has seen significant expansion, both in terms of the number of Ethereum deposits and overall value growth. Secondth in the past six months.data News released by Defillama on July 5, 2023 showed that 10.16 million ether coins were locked in these protocols, worth $19.69 billion.Now the total has increased again E12.31 millionCurrently valued at $27.59 billion.

Source: Defilama

Ethereum’s Liquidity Staking Protocol Allows Participants to Stake ETH At the same time maintain liquidity by purchasing representative tokens that can be used on the Defi platform.When pledging Ethereumusers will receive liquid derivatives, such as Lido’s STETH or Rocket Pool’s RETH, representing their staked capital as well as any accumulated rewards.

Half a year ago, Lido was the leading liquidity staking protocol holding ETH, protecting $7.56 million Ethereum. As of this writing, the number of tokens held by Lido has increased to 9.26 million. Rocket Pool holdings increased from 810,502 ETH as of July 5, 2023 to 1.09 million Ethereum January 6, 2024.Meanwhile, Binance’s liquidity staking protocol has seen huge growth, surging from 72,077 ETH to 779,785 Ethereum exhibit.

Against this backdrop, Lido’s ETH reserves increased by 21.16%, while ETH held by the Binance Liquidity Staking Platform increased by 981%. Stakewise observed a slight increase from 91,910 ETH to 97,199 ETH, while Coinbase’s staking service fell from second largest to fifth largest in the past six months.

Mantle and Swell have quickly risen in the rankings, with Mantle currently holding 174,532 ETH in sixth place and Swell holding 142,725 tokens in seventh place. Both surpassed Stakewise earlier this year. Within six months, the top 27 liquidity staking protocols added 2.15 million ETH, worth $4.83 billion, and the momentum behind liquidity staking protocols shows no sign of weakening.