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Lido Finance remains the largest staking service in the cryptocurrency industry with more than 28% of the total market share, according to IntoTheBlock. The market intelligence platform announced on Twitter earlier today that their new Ethereum Staking Market Share indicator shows how staking is distributed between services.
Our new Ethereum Staking Market Share indicator shows how staking is distributed between staking services. @LidoFinance remains the largest staking service, with over 28% of the total market share.#Staking #Ethereum #Lido pic.twitter.com/Ls4E1e2qYJ
— IntoTheBlock (@intotheblock) August 3, 2023
The staking market share indicator showed that Coinbase and Stakefish are ranked as the second and third largest staking services, with respective market shares of 7.72% and 5.69%. Closing up the top 5 staking services were Kraken, Binance, and Figment.
Kraken has a staking market share of 5.33%, while Binance and Figment have staking market shares of 5.22% and 3.83%. At the bottom of the pack is Rocketpool with its market share of 2.91%, and Staked.us with a market share of 2.42%.
IntoTheBlock’s data shared that 10.22% of the staking market share is classified under “others.” An estimated 28.41% of the staking market share remains unknown.
In related news, the market tracking website, CoinMarketCap, indicated that Lido DAO (LDO) was one of the many cryptocurrencies that saw its price drop over the past 24 hours of trading. At press time, LDO was worth $1.85 after its price decreased by 1.98%.
This meant that LDO was trading a bit closer to its daily low of $1.82 than its 24-hour high of $1.89. Additionally, throughout the past day, LDOs trading volume dropped by more than 18%, which left the altcoin’s volume standing at $56,043,038.
The cryptocurrency’s price hiccup also impacted its weekly performance as LDO was down by more than 5% over the past seven days. Meanwhile, LDO’s market cap of
$1,626,027,549 meant that it claimed its spot as the 34th largest cryptocurrency in terms of market capitalization.
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