According to The Block’s Data Dashboard, Ethereum liquid staking protocol Lido reached a total value of $30.56 billion on February 26.
Lido has seen increased acceptance and steadily rising TVL since approximately July 2022. Lido’s last major peak in TVL was $20.83 billion on April 5, 2022, a month before the collapse of the Terra USD stablecoin ecosystem.
TVL describes the amount of capital invested, or “locked up,” in a decentralized finance protocol, and it is a key indicator of that protocol’s popularity. Lido has a huge lead in the total value of liquid staking protocols, with Rocket Pool next in line with $3.8 billion in TVL.
Lido’s high TVL makes it the largest validator of the proof-of-stake blockchain Ethereum, controlling 32% of staked ether. Although Lido is a single protocol, it works with it 36 entities to run the nodes and manage the block production process.
About the author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering all crypto news, but with a bias toward NFT, metaverse, web3 gaming, finance, crime, hack, and crypto ecosystem stories. MK is a graduate of New York University’s Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
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