• Lido’s staking deposits across all chains have grown, with Ethereum on the Beacon Chain reaching 5.05 million ($8.32 billion).
• The value of assets locked (TVL) in Lido has increased by 5.5% over the last seven days and its native token, LDO, surged 18%.
• Frax Ethereum’s TVL rose 77% in the past month and its native token, FXS, surged 30% in the last 24 hours.
Lido Crosses 5M Staked Ethereum
Lido reported that its staking deposits across all chains have grown, with Ethereum on the Beacon Chain reaching 5.05 million ($8.32 billion). This led to their native token, LDO, surging 18% to $2.45 as of press time. Additionally, the total value of assets locked (TVL) in Lido has increased by 5.5% over the last seven days and it currently holds 29.3% of the market share for liquid staking protocols and 17.31% of DeFi protocols‘ market share overall.
Frax ETH On The Rise
The ecosystem for Frax Ethereum (frxETH) has also seen significant growth recently; its TVL increased by roughly 77%, bringing it to a total value of $144 million according to data aggregator DeFillama. Additionally, its supply grew by 70,000 ETH within three months according to Blockchain analytics firm Nansen making it one of the largest ETH LSDs available today. To add to this news Frax Share (FXS), frxETH’s native token also saw an increase with prices rising 30% in just 24 hours and 120% over a span of 30 days according to CryptoSlate data .
Incentives Now Live
On top of this news Lido said their February incentives program is now live with 1.95 million tokens set aside for rewards from stakers who are able participate within their network .
Growing Interest In Liquid Staking Protocols
It is clear that there is an increasing amount of interest being directed towards liquid staking protocols like Lido & Frax which are providing users with more options when it comes to earning returns on their crypto investments while at same time providing networks with extra security through additional validators .
Overall these developments show a positive trend towards liquid staking that could bring more people into DeFi space as well as provide new opportunities for those already invested in cryptocurrency markets