Token Staking Liquidity Increased by 15% as Ethereum Shapella Upgrade Approaches

Liquidity staking was the best-performing crypto sector over the past 24 hours, up more than 15%, the data showed.

All seven projects in the space are up more than 5%. Among them, Lido (LDO) and Frax Share (FXS) were among the top 5 gainers on March 29.


Source: CryptoSlate

According to a report, the Liquid Staking Derivatives (LSD) platform is back in the spotlight following the highly anticipated Shapella network upgrade, which allows withdrawals of staked ETH to be activated at epoch 194048 on April 12. Announce Ethereum Foundation.

Frax Share leads

Frax Share’s FXS was the best performing liquid collateralized derivative during the reporting period – up 19.63%.

FXS, Frax Protocol’s governance token, saw its price surge after launching its liquidity staking program late last year.


Source: DeFillama

According to DeFillama data, the total value locked (TVL) of Frax Ethereum (frxETH) has increased by 31.49% in the past 30 days to an all-time high of $231 million — equivalent to 131,970 ETH tokens. .

In February, blockchain analytics firm Nansen reported that the frxETH supply increased by 70,000 ETH in 3 months.

Cosmopolitan still dominates LSD

Meanwhile, Lido remains the dominant staking platform in the cryptocurrency industry. Its LDO token is up 13% over the past 24 hours to $2.44 at press time.

Despite Lido developers’ decision to stop staking services for Polkadot and Kusama, the protocol’s TVL increased by 6.51% to $10.89 billion.

Shapela Stakeout

Source: DeFillama

according to data According to Dune Analytics, the protocol accounts for about 32% of all ETH staked — or about 5.8 million tokens.

Beyond that, it’s the most dominant decentralized finance protocol — with a market share of 21.8 percent, according to DeFillama.

Other staking protocols such as Rocket Pool (RPL), StakeWise (SWISE), ANKR, and Stafi (FIS) have all posted positive growth over the past 24 hours. Overall, tokens in the space have a market cap of $3.98 billion at press time.

Over the past 24 hours, DeFillama . data Record The top 10 liquidity staking protocols saw an average 5% increase in TVL, excluding Marinade Finance.

  • Coinbase Moves to On-Chain Staking for Tezos, Cosmos, Solana, and Cardano
  • Ethereum’s Shanghai is creating traction for liquid staking protocols
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According to Cryptoslate

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