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Thursday, July 25, 2024
AltcoinsLido Releases Favorable Staking Data for Late June

Lido Releases Favorable Staking Data for Late June

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Lido Analytics disclosed that the Total Value Locked (TVL) surged by 1.36% to reach $33.48 billion. This uptick was mainly fueled by the addition of 95,616 ETH staked through Lido, showcasing an ongoing trust in the platform’s staking services. The 7-day Annual Percentage Rate (APR) for stETH saw a slight decline of 0.04%, settling at 2.96%. Despite this marginal decrease, Lido continued to draw in significant new deposits, emphasizing its attractiveness to stakers in search of consistent returns.

Summary of Lido Analytics for the period June 24 to July 1, 2024:
– TVL increased by 1.36% to $33.48 billion.
– 95,616 new ETH staked via Lido.
– 7-day stETH APR stood at 2.96%.
– wstETH on L2 spiked by 7.19% to 141,586 wstETH.
– (w)stETH 7-day trading volume amounted to $1.23 billion.

Lido’s wrapped stETH (wstETH) on Layer 2 networks saw a notable surge of 7.19%, reaching a total of 141,586 wstETH. Key movements within these networks included a significant rise in Scroll, climbing by 86.26% to 21,181 wstETH. Additionally, the Base network witnessed growth of 1.55% to 14,895 wstETH. On the other hand, minor declines on Arbitrum, Optimism, Polygon, Linea, and zkSync Era underscored the fluidity of staking activities across diverse platforms.

Upsurge in stETH in DeFi and Cosmos
The quantity of (w)stETH in DeFi lending pools saw a modest increase of 0.63%, reaching 2.70 million stETH. Similarly, (w)stETH in liquidity pools grew by 0.62%, totaling 83.5k stETH. Over on the Cosmos network, wstETH experienced a slight uptick of 2.12%, bringing the total to 1,788 wstETH. These figures underline the expanding integration and use of stETH throughout various DeFi ecosystems and networks.

While displaying overall positive trends, the 7-day trading volume for (w)stETH registered a 7.25% decline, amounting to $1.23 billion for the week. This dip hints at a temporary slowdown in trading activity, yet it remains within a healthy range amidst broader market conditions.

These latest developments demonstrate Lido’s sustained progress and resilience in the staking and DeFi realm. Despite minor fluctuations in some metrics, the overarching trajectory showcases robust performance and growing adoption of Lido’s staking solutions.

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