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According to DeFillama, Ethereum (ETH) staking protocol Lido (LDO) is now the leading DeFi protocol based on total assets locked (TVL) in its ecosystem. data.
Lido’s TVL overtook MakerDAO’s (MKR) TVL in the last 24 hours after rising 0.57% to $5.9 billion. This places Lido’s dominance at 15.23% of the total DeFi TVL of $38.68 billion, according to the data aggregator.
Lido, on the other hand, website indicates that its TVL is $5.95 billion. According to the site, $5.86 billion of Ethereum was wagered through its platform. Other assets such as Polygon (MATIC), Solana (SOL), Kusama (KSM) and Polkadot (DOT) have a combined value of $83.7 billion.
December 20th Tweet All chains except Kusama saw an increase in staking deposits, according to Lido. The platform highlighted that the negative price performance of his token native to these chains contributed to his TVL performance.
Lido is the dominant staking platform
Dune analysis data shows that Lido is also the dominant staking service provider, controlling 29.11% of the market.
This is ahead of other competitors, including major centralized exchanges such as Coinbase, Kraken and Binance, which cumulatively control about 27% of staked Ethereum. .
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Multiple analysts have previously highlighted that Lido’s dominance in Ethereum staking could put blockchain networks at risk.
LDO up 17%
crypto slate Data shows that Lido’s native token is up over 17% in the last 24 hours, to $1.16 at the time of writing.
LDO is also one of the best performing digital assets over the past seven days, up about 20%.
This token was one of the ERC-20 assets reportedly sold by an Alameda-related wallet. According to reports, over 700,000 tokens were sold for 601 ETH. On top of that, Aave founder Stani Kulechov sold his entire LDO holding for a total of $2.4 million.
