Two leading liquid staking defi protocols, Lido Finance, and Rocket Pool, saw 30-day growth rates between 7.57 per cent and 9.69 per cent

More than ten million ethereum is now secured within liquid staking derivatives platforms, with a valuation near $20bln at current exchange rates, according to recent data. Two leading liquid staking decentralized finance (defi) protocols, Lido Finance, and Rocket Pool, saw 30-day growth rates between 7.57 per cent and 9.69 per cent.

As of July 2, 2023, over ten million ethereum is locked in liquid staking defi platforms. At one point, around 10.11 ethereum is locked, worth $19.456bln using today’s exchange rates. Lido, the top liquid staking derivatives protocol, asserts a striking 74.51 per cent market share as it holds nearly 7,530,330 ethereum as of Sunday at 8:00 a.m. ET, as per defillama.com.

During the last week, Lido’s total value locked (TVL) increased 1.90 per cent, while its monthly growth rate hit 7.57 per cent. The defi application’s present TVL sits at $14.43bln. In the meantime, Coinbase’s Wrapped Ether defi platform saw a seven-day TVL rise of 3.27 per cent, even though it saw a marginal decline of 0.24 per cent over the month. Presently, Coinbase’s liquid staking derivatives platform secures nearly 1,124,130 ethereum worth $2.24bln.

Rocket Pool, the third-biggest liquid staking protocol, saw a moderate seven-day growth of around 0.99 per cent. Nonetheless, its 30-day performance disclosed a more significant rise of 9.69 per cent. On Sunday morning, Rocket Pool’s holdings totalled almost 803,406 ethereum worth $1.54bln. On the contrary, the Frax Ether defi application reported a 1.96 per cent weekly growth and a monthly gain of just 0.81 per cent, with control over 234,062 ethereum. Finally, Stakewise, the fifth-biggest liquid staking derivatives platform, experienced a slight 0.31 per cent rise over the past week and a June rise of 1.10 per cent.