Liquid Staking Derivatives See 110,000 ETH Inflow Over 12 Days

While liquid staking protocols experienced a brief period of withdrawals, the past 12 days have seen liquid staking derivatives (LSDs) platforms gain 110,000 ether valued at $417.59 million.

Swell Experiences Decline as Lido and Others See $ETH Increases

In the realm of decentralized finance (defi), liquid staking derivatives (LSDs) have finally recorded positive deposits after several weeks of reductions. The $ETH held by LSDs almost fell below the 13 million threshold, reaching a low of 13.04 million ether. Today, these platforms hold 13.15 million ether, with an estimated value of $50.29 billion.

Twelve days ago, Lido had 9.36 million $ETH, and now the LSD holds 9.51 million $ETH, accounting for 72.31% of the market share. The data indicates that Lido attracted a significant portion of the deposits, with 150,000 $ETH added over this period. Rocket Pool’s $ETH holdings remained constant over nearly two weeks. Binance’s staked $ETH program saw a modest rise from 896,471 to 896,580 ether.

Mantle’s LSD platform noted a slight increase from 476,223 to 473,818 $ETH. However, Swell experienced a reduction, dropping from 190,087 $ETH to 181,863 $ETH over the past 12 days. Several other LSDs saw outflows, resulting in net inflows of approximately 110,000 ether, valued at an estimated $417.59 million.

The recent rise in LSDs, with an impressive 110,000 ether influx, may be signaling renewed confidence in the liquid staking defi sector. Lido’s significant growth, capturing over 72% of the market share, continues to underscore its dominant position among competitors. However, Swell’s continued decline serves as a reminder of the ongoing outflows.

What do you think about the recent ether inflows? Share your thoughts and opinions about this subject in the comments section below.