Ethereum liquid staking reaches 14B ETH with $37M value

Ethereum’s (CRYPTO:ETH) liquid staking protocols have reached a significant milestone, with over 14 million ether now locked in these platforms.

According to recent data, the total ETH in liquid staking derivatives (LSD) protocols surged to 14.08 million ETH as of September 29, 2024, marking an increase of 90,000 ETH in the past 12 days.

This represents a 0.643% rise since mid-September, pushing the total value of staked ETH to $37.33 billion.

Since the start of 2024, 1.77 million ETH, equivalent to $4.68 billion, has flowed into decentralised finance (DeFi) staking platforms.

At the beginning of the year, DeFi protocols held 12.31 million ETH, then valued at $27.49 billion.

The total staked amount now represents 11.69% of Ethereum’s $319.28 billion market cap.

Lido remains the dominant player in the liquid staking market, controlling 69.59% of all staked ETH.

As of the end of September, Lido holds 9.8 million ETH.

Binance’s LSD platform has overtaken Rocket Pool to claim second place, commanding 1.42 million ETH, or 10.10% of the market share.

Rocket Pool now holds 1.22 million ETH, representing 8.63% of the total liquid staked ETH.

Throughout 2024, liquid staking platforms like Lido, Binance, and Rocket Pool have continued to accumulate more ether, signifying their growing influence in Ethereum’s staking ecosystem.

Combined, these three platforms control 88.32% of the total ETH held in liquid staking protocols, underscoring their dominance in the market.

Based on the current trajectory, Ethereum’s liquid staking derivatives are expected to continue growing as more users seek to lock up their ether in DeFi protocols, contributing to the overall security and functionality of the Ethereum network.

At the time of writing, the Ethereum price was $2,642.96.