{"id":12268,"date":"2024-04-04T11:32:09","date_gmt":"2024-04-04T08:32:09","guid":{"rendered":"https:\/\/forklog.com\/en\/lidos-share-in-ethereum-staking-drops-to-29-6\/"},"modified":"2024-04-04T11:32:09","modified_gmt":"2024-04-04T08:32:09","slug":"lidos-share-in-ethereum-staking-drops-to-29-6","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/lidos-share-in-ethereum-staking-drops-to-29-6\/","title":{"rendered":"Lido’s Share in Ethereum Staking Drops to 29.6%"},"content":{"rendered":"

The recent influx of new Ethereum stakers has reduced Lido Finance’s share in the segment from 32% in February<\/a> to 29.6%, according to data from the Dune dashboard<\/a>.<\/p>\n

\"Lido's
Share of organizations in Ethereum staking. Data: Dune.<\/figcaption><\/figure>\n

In total, Lido has 9.5 million ETH locked. Coinbase ranks second with 14%, followed by Binance with 3.7%.<\/p>\n

Meanwhile, unidentified validators account for 16.9% of the sector.<\/p>\n

Overall, 26 platforms participate in Ethereum staking, including exchanges like Kraken (2.4%), Bitcoin Suisse (1.6%), OKX (1.2%), and Upbit (1.1%).<\/p>\n

In total, 26.7% of the coin’s supply is locked in the network\u201432.07 million ETH, approximately valued at $106.8 billion. More than 1 million validators are involved in the staking process.<\/p>\n

\"Lido's
Data: Dune.<\/figcaption><\/figure>\n

Growing competition among ETH locking services is likely to play a significant role in further decentralizing the sector. The community has long been concerned about the high concentration of funds in Lido.<\/p>\n

In March, Ethereum co-founder Vitalik Buterin stated<\/a> that centralization related to staking services has become a major issue for the network’s PoS mechanism. According to him, Lido, Coinbase, and Binance have gained an “excessive market share.”<\/p>\n

Simultaneously, liquid restaking protocols have been gaining popularity. On April 1, the total TVL<\/span> of such platforms exceeded $8.6 billion.<\/p>\n

Projects based on EigenLayer, which allow for the reuse of locked coins, have shown explosive growth<\/a> since February.<\/p>\n

Back in February, Coin Metrics experts concluded<\/a> that existing narratives about the threat of Ethereum being overtaken by staking platforms like Lido are misplaced.<\/p>\n","protected":false},"excerpt":{"rendered":"

The recent influx of new Ethereum stakers has reduced Lido Finance’s share in the segment from 32% in February to 29.6%, according to data from the Dune dashboard. Share of organizations in Ethereum staking. Data: Dune. In total, Lido has 9.5 million ETH locked. Coinbase ranks second with 14%, followed by Binance with 3.7%. Meanwhile, […]<\/p>\n","protected":false},"author":1,"featured_media":12267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,46,1387],"class_list":["post-12268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-ethereum","tag-lido"],"aioseo_notices":[],"amp_enabled":true,"views":"42","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12268"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12267"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}