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In the last two weeks, liquid staking derivative (LSD) protocols have experienced a decline of 60,000 ether valued at over $198 million, with Lido accounting for 40,000 of the $ETH withdrawn.
LSD Sector Snapshot: $198 Million Ether Withdrawn in 2 Weeks
Liquid staking has been witnessing a decrease; on April 15, 2024, the 27 distinct LSD platforms had 13.15 million ether, which has now dropped to 13.09 million $ETH, currently valued at $43.01 billion. The LSD protocol Lido remains the largest holder of $ETH among the LSDs, possessing 9.35 million ether, which represents 71.41% of the total market share.
Two weeks ago, Lido reported having 9.39 million ether, a figure that has since decreased by 40,000 $ETH. Rocket Pool, another LSD platform, experienced a modest rise from 1.13 million to 1.14 million $ETH. Binance Pool also noted a slight increase, from 896,355 ether to 896,406 $ETH as of Sunday. Conversely, Mantle recorded a drop, losing about 13,001 ether since April 15, with its current holdings standing at 489,892 $ETH.
Similarly, Swell’s holdings fell from 216,120 ether to 213,165 $ETH. Frax’s LSD protocol also witnessed a decrease during this period. Although Rocket Pool’s additional 10,000 $ETH and Binance Pool’s increase helped mitigate some overall losses, the sector still saw 60,000 $ETH in two weeks, valued at over $198 million, withdrawn. Since April 1, the LSD ecosystem has seen a total exodus of 440,000 ether, worth $1.45 billion.
What do you think about the 60,000 ether unstaked over the past two weeks? Let us know what you think about this subject in the comments section below.