Ethereum (ETH) chief liquid staking protocol Lido Finance (LDO) noticed a rise in whole locked worth (TVL) of practically 7% final week. This can be as a result of enhance in ETH and Polygon (MATIC) costs and a rise in stake deposits within the protocol. Between November 27 and December 4, the values of ETH and MATIC elevated by 7% and 6% respectively.
DefiLlama Stories
In line with DefiLlama’s information, on the time of writing, Lido’s TVL was round $21.32 billion, marking a 25% enhance final month. Following a quick drop in web deposits to the Ethereum Beacon Chain by way of Lido, the DeFi protocol regained its place as probably the most staked protocol.
In line with Dune Analytics information, Lido recorded a web new ETH staking deposit of 76,961 throughout the seven-day interval beneath evaluation. Final week, Lido accounted for 50% of all ETH deposits made. The token is adopted by Coinbase, which had solely a 17% market share of all web deposits throughout that interval.
Main cryptocurrency trade Binance noticed probably the most ETH withdrawals final week. Information from Dune Analytics confirmed that 32,000 ETH beforehand staked was withdrawn from the platform within the final seven days. The annual share price (APR) earned from holding the staked Ethereum has been steadily growing for the reason that starting of the month.
Standing of Layer 2 Tasks
Along with the recorded TVL development throughout the week, the protocol noticed development in distributions in main Layer 2 platforms within the type of bridged stETH quantities. Information from Dune Analytics confirmed a 0.01%, 1%, and 36% enhance in stETH bridged to Arbitrum (ARB), Polygon, and Base, respectively.
Alternatively, Optimism (OP) recorded a 0.37% lower in bridged stETH quantity throughout the interval beneath evaluation. This month, transaction charges paid by Lido customers reached a complete of $11.49 million, leading to $1.15 million in income. In November, the entire transaction price on the staking platform was $62 million, with whole income recorded at $6 million.
