Lido Finance dominates 33% of all Staked Ethereum (ETH), here's what it means ETH LSD DeFi Investment stETH Blockchain
In the instance of Lido Finance, users deposit ETH on Lido's staking website and are given the receipt token stETH, which Lido uses to represent the ETH staked.Coinbase comes in second after Lido Finance with a considerable margin and has a total staked share of 6.58%, which amounts to 1.145 million ETH staked on the platform.
Rocket Pool is the next largest ETH liquid staking protocol after Coinbase and has a total staked share of 2.3%, which amounts to 415,000 ETH staked. Frax Finance recently launched an ETH liquid staking service to turn ETH into frxETH, an ETH LSD. According to IntoTheBlock, Frax accounts for 0.6% of the total staked ETH share, which is 106,000 ETH.
StakeWise, an open-source protocol for staking on Ethereum 2.0, accounts for 0.43% or 74,000 ETH staked.
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