The Locked Value (TVL) of Liquid Staking projects has crossed the $14 billion mark, making it the second-highest segment in the entire DeFi industry.
According to data from DeFiLlamaAs of the afternoon of February 27, Liquid Staking projects recorded a TVL volume of USD 14.09 billion, surpassing lending to become the segment with the second highest locked asset value in the entire DeFi industry.
Liquid Staking is a concept that only crypto projects allow users to lock tokens to participate in staking large layer-1 blockchains, in return will receive a token representing the locked asset to be able to continue participating in DeFi. . As Ethereum is about to perform the Shanghai upgrade in March to unlock the locked amount of 16.8 million ETH, many recipients of this amount will be transferred to the Liquid Staking protocols.
The largest DeFi segment is still the decentralized exchange (DEX), with $19.3 billion TVL from 716 projects, which is also the group with the most projects.
Out of 71 projects made about Liquid Staking, DeFiLlama According to statistics, Lido (LDO) is the name that accounts for 66% of the locked TVL volume when contributing $9.3 billion. Lido is also the project that started the Liquid Staking movement by helping Ethereum investors participate in staking ETH, receiving stETH tokens. Lido’s LDO token price has increased by more than 220% since the beginning of the year.
Following are the staking tokens of Coinbase and Rocket Pool (RPL) respectively.
Some analysis shows that Liquid Staking still has room for growth, as the ratio of staking coins to the total supply of ETH is only 14.3%, while the average of other Proof-of-Stake blockchains is 58. %.
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