Liquid Staking Protocols See Increase in Monthly ETH Deposits Despite Withdrawals Post-Shapella Hard Fork

Following the Shapella hard fork connected April 12, 2023, astir 332,368 ether, valued astatine astir $699 million, has been withdrawn. Despite these withdrawals, liquid staking protocols similar Lido, Rocketpool, and others person experienced an summation successful ether deposits implicit the past 30 days. Since March 14, a full of 281,498 ether worthy $592 cardinal person been added to these protocols.

TVL successful Staked Ether Accounts for Over 30% of Defi’s Locked Value, With Lido Leading the Pack

As of April 15, 2023, there’s $53.68 billion full worth locked (TVL) crossed assorted decentralized concern (defi) protocols. Around $16.96 cardinal oregon 31% of today’s defi TVL is successful staked ether. Lido’s TVL stands astatine astir $12.74 billion, accounting for 23.74% of defi’s locked value. The rising terms of ethereum (ETH), supra the $2,100 per portion range, on with deposits into ETH-based liquid staking protocols person contributed to an summation successful worth for these platforms.

For instance, Lido’s TVL has grown by 18.02% implicit the past 30 days; Coinbase’s liquid staking protocol has risen by 16.51% wrong the aforesaid period. Rocketpool’s TVL has surged by 22.48%, portion Stakewise has expanded by 15.83%. Archive data from March 14, 2023, shows that 7,749,372 ETH were locked successful liquid staking platforms; arsenic of April 15, that fig is up to 8,030,870 ETH – an summation of 281,498 ether successful conscionable 1 month.

Simultaneously, since the Shapella hard fork integration, a full of 332,368 ether has been withdrawn from the validator queue. Current pending withdrawals relationship for astir 1.48 cardinal ether worthy of funds. The yearly percent complaint (APR) for staking ETH presently sits astatine astir 4.98% today. Presently, the Beacon concatenation declaration holds 18,386,887 ETH, valued astatine $38.67 billion.

Approximately 81% of ETH validators person updated their withdrawal addresses, portion 18.5% person not, arsenic per Nansen statistics. The 3 entities with the highest fig of withdrawals are Kraken, Binance, and Coinbase. It is speculated that Kraken and Coinbase person initiated a ample information of these withdrawals due to issues with U.S. regulators concerning liquid staking protocols.

What bash you deliberation the aboriginal holds for liquid staking protocols? Will their maturation proceed oregon volition regulatory concerns and marketplace volatility interaction their popularity successful the months to come? Share your thoughts successful the comments conception below.

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