TVL Liquid Stake Protocols Could ‘Change’ DEX TVLs Soon

The total value of assets locked (TVL) in liquid staking protocols is close to that of decentralized exchanges (DEXs), according to data from Defilama.

The 81 liquid stake protocols tracked by DeFillama have a cumulative TVL of $19.31 billion, with Lido being the dominant player in the sector.

Meanwhile, the total value of assets locked in the 799 DEX protocols stands at $19.48 billion, according to DeFillama. data.

Patrick, DeFi Analyst he pointed that the “change of address” could occur at any time.

Liquid staking protocols allow users to earn staking rewards while providing them with liquidity for other crypto-based activities. Examples of this protocol include Lido, Frax Ether, Rocket Pool, etc.

At the beginning of the year, liquid staking protocols became the second largest category of DeFi when usurped the category of loan protocols. At that time, the liquid stake protocols enjoyed tremendous interest due to the early update from Shapella.

Liquid Participation Protocols Rise After Shapella

From the Shapella Enhancement, the top 10 liquid staking protocols have seen their TVL grow by an average of 10% over the past seven days. For context, the number of Stake Ethereum on Lido (I DO) topped 6 million — worth $12.93 billion — on April 18, according to DeFillama data.

CryptoSlate The data corroborates the growing value of liquid participation platforms. According to the datathe market capitalization of the protocols in the sector grew to $4.44 billion in the last seven days.

Dashboard of blockchain analytics firm Nansen presented that more Ethereum is being deposited than is being deposited retired for the first time since the network completed the Shapella update.

Source: Nansen

According to the dashboard, more than 85,000 ETH was deposited in the last 24 hours, while less than 22,000 ETH was withdrawn during the same period.

Meanwhile, blockchain analyst Lookonchain reported that some addresses withdrawing their staked ETH, they were immediately staked again. The on-chain detective reported two whales staking more than 50,000 ETH tokens through the liquid staking protocol, Agility.

The charge TVL Liquid Stake Protocols Could ‘Change’ DEX TVLs Soon first appeared in CryptoSlate.

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