Lido (LDO) has achieved “overwhelming dominance” within the Ethereum (ETH) liquid staking sector, in accordance with the crypto analytics agency Glassnode.
In a new evaluation, Glassnode notes that Lido clocks the very best provide, liquidity, and integration community results of any liquid staking supplier.
Lido goals to permit customers to stake ETH with out locking property or sustaining infrastructure. When staking on the platform, customers obtain Lido Staked Ether (stETH) on a 1:1 foundation representing their staked ETH, and stETH balances can be utilized like common ETH to earn yield or rewards.
Glassnode notes that Lido is main different suppliers by way of day by day deposits.
Lido can also be in entrance by way of circulating provide, in accordance with the analytics agency.
“When evaluating to different liquid staking opponents, Lido stands out because the clear chief within the sector with its provide 16 occasions increased than its nearest competitor. That stated, the availability of rETH, which is the liquid staking token of Rocketpool, has been rising 3 times quicker than Lido’s because the starting of this yr.”
LDO is buying and selling at $2.06 at time of writing. The Thirty third-ranked crypto asset by market cap is down 4.5% prior to now 24 hours however up practically 12% prior to now week.
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