Liquid staking, a favored decentralized finance (defi) method, has protocols holding the largest total value in defi today. On Oct. 28, 2024—33 days ago—liquid staking ether protocols collectively held 14.08 million ETH. That figure has since fallen to 13.85 million, marking an outflow of 230,000 ETH, valued at $844 million at current rates.
Currently, the combined value of ether locked in these platforms is $49.837 billion. Of this, Lido holds a commanding 9.8 million ETH, representing $35.216 billion. Lido’s holdings grew modestly over the past 33 days, up from 9.75 million ETH. Binance’s liquid staking platform now controls 1.72 million ETH, worth $6.18 billion, reflecting an increase from 1.52 million ETH during the same period. However, Rocket Pool faced a significant decline in holdings.
While Binance gained 200,000 ETH, Rocket Pool saw a massive outflow of 479,374 ETH, leaving it with 750,626 ether today. Data reveals that of the 13.85 million ETH managed by 31 different liquid staking protocols, the top three—Lido, Binance, and Rocket Pool—account for 12,270,626 ether, or 88.62% of the total.
Beneath these three leaders, around seven platforms hold between 109,797 to 475,380 ether each, while six others manage less than 167,000 ether. These recent shifts illustrate the competitive nature of liquid staking, as dominance remains concentrated among a few major players. Binance and Lido benefited from inflows, while Rocket Pool’s outflows highlight the nuanced trust and participation dynamics in the defi space.
