Ethereum as one of the most popular altcoins in the cryptocurrency market in daily Ethereum news 680,000 Ethereum to Liquid Staking protocol
Ethereum daily news
It was added in 28 days. Despite the stagnation in the digital currency market, 680,000 Ethereums have been added to the liquid staking derivatives protocol. The leading platform and liquid equity, Lido Finance experienced an increase of nearly 6% and still maintained its share of 73%. Lido received an influx of about 470,000 ETH. As of July 29, Coinbase’s liquid equity derivative product had approximately 1.17 million Ether. Today, it is about 1.22 million. Rocket Pool experienced an increase from holding 857,967 ETH to holding around 901,072 ETH in the same time frame. Lido, Coinbase, and Rocket Pool lead the pack, followed by Frax Ether (approx. 254,692 ETH) and liquid equity platform Eigenlayer (approx. 100,025 ETH).
Follow the daily news of Ethereum in our news media. Pay attention to the rest of the news. Today, the use of liquid staking protocols has gained popularity, which has various benefits for users, including its benefits, the possibility of immediate liquidity through tokens It provides staking and makes participation available to users who don’t want their assets locked up, making the process of liquid staking easy for users. However, it’s important to note that liquid staking tokens carry risks. . A primary risk associated with liquid staking is decoupling – when the locked token and its derivative have different values. Decentralized exchanges use arbitrage mechanisms to link to liquid staking tokens. However, if the Total Locked Value (TVL) in the liquidity pools drops drastically, this can disrupt arbitrage incentives and cause the token to lose its link.
If the TVL in the liquidity pools decreases, the token risks losing its link, leading to significant slippage during asset swaps. However, the appeal of liquid investment remains strong for decentralized finance enthusiasts, who regularly contribute Ether to these liquid equity derivatives platforms. The statistics show that today’s 11.33 million locked Ether is 9.42% of the 120.21 million Ethereum in circulation. Follow daily cryptocurrency and Ethereum news here.