- This is the first time this category has topped TVL in DeFi
- Aided by the Shapella update
Since Ethereum allowed its users to withdraw ethers via the Shapella update, liquid-stacking protocols have increased the total blocked assets (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 surpassed DEXes in total value locked, making it the leading category in DeFi by TVL dominance.
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According to archived data, back on April 13, $17.19 billion (and $18.89 in DEX) was locked up in smart liquid staking contracts.
However, in two weeks, the balance has changed. In the DEX, that number dropped by $1.66 billion. Their TVL is now $17.2 billion.
But TVL in the protocols of liquid stacking increased by $280 million and now stands at $17.47 billion. This put this category at the top of the list.
The Lido project is the dominant player in this sector. Over the past seven days TVL here increased by an average of 10%.
Lido Smart Contracts (stETH) now has $11.54 billion in blocked cryptocurrency. The second place in TVL is held by Coinbase Wrapped Staked Ether (CBETH).
It has blocked $2.19 billion in assets, while Rocket Pool (rETH) closes the top three with $1.46 billion in funds. The third place is taken by Coinbase Wrapped Staked Ether (CBETH).