- For the first time, this category was in first place in TVL in DeFi
- This was facilitated by the Shapella update
Ever since Ethereum allowed its users to withdraw ether via the Shapella update, liquid staking protocols have increased the total amount of assets locked up (TVL) on their platforms. Moreover, they have surpassed decentralized exchanges in this indicator. These are the results of a new DefiLlama study. For the first time in the history of the crypto industry, the Liquid Staking category has become the leading category in DeFi for TVL dominance.
As of April 13, $17.19 billion (and $18.89 in DEX) was locked in liquid staking smart contracts, according to archived data. However, in 2 weeks the balance has changed. In the DEX, this figure fell by $1.66 billion. Now their TVL is $17.2 billion. But the TVL in liquid staking protocols has grown by $280 million and is now at $17.47 billion. This brought this category to the first place.
The Lido project is the dominant player in this sector. Over the past seven days, TVL here has increased by an average of 10%. Currently, $11.54 billion worth of cryptocurrency is locked in Lido (stETH) smart contracts.
Second in TVL is Coinbase Wrapped Staked Ether (CBETH). Assets worth $2.19 billion are blocked here. Rocket Pool (rETH) closes the top three with $1.46 billion of funds.