Liquid Staking Platforms See Surge as 110,000 Ether Flows In, Elevating DeFi Assets

Over the past week, liquid staking platforms have seen a significant influx of 110,000 ether (ETH), worth $292 million, boosting decentralized finance (DeFi) holdings.

Binance’s Staked ETH protocol captured 88% of this inflow, increasing its holdings to over 1 million ETH. Lido also saw a modest increase, now holding 9.82 million ETH and maintaining 71.67% of the market share. Meanwhile, Mantle’s ether supply rose by 18,718 ETH, while smaller protocols like Coinbase, Frax, and Stakestone experienced outflows, reflecting a competitive landscape where larger platforms are solidifying their dominance.

Clever Robot News Desk 19^th August 2024