Ethereum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/lido-finance-hits-peak-earnings-and-enjoys-surge-in-ethereum-staking" rel="noopener noreferrer nofollow">Lido Finance Hits Peak Earnings and Enjoys Surge in Ethereum Staking</a><br></p>
<p style="text-align: justify">In recent financial updates, Lido Finance, a prominent liquid staking protocol, has reported unprecedented monthly fees and revenue, marking its most lucrative period so far. The catalyst behind this economic boom is the sharp rise in <a href="https://en.bitcoinhaber.net/ethereums-price-soars-rewarding-investors-with-notable-gains" rel="noopener noreferrer nofollow">Ethereum</a> staking within the last month. Analytics firm DefiLlama has tracked a significant uptick in staked Ethereum, contributing to this financial success.</p>
<h2 id="expanding-stakes-and-ascending-revenue">Expanding Stakes and Ascending Revenue</h2>
<p style="text-align: justify">As per CryptoQuant’s analysis, there has been an approximate 10% increase in the total value of staked Ethereum, with 31.5 million ETH, valued at 109 billion dollars, actively staked to date. February saw Lido’s transaction fees aggregate to 80 million dollars, revealing a month-over-month growth of 10%. The increased staking activity not only boosted revenue by 9%, amounting to 8.02 million dollars, but also significantly elevated Lido’s total value locked (TVL), which recorded a 57% surge last month. Currently, Lido’s TVL stands high at 34 billion dollars, securing its position as the leader in the decentralized <a href="https://en.bitcoinhaber.net/moodys-highlights-rising-adoption-of-tokenized-investment-funds-despite-risks" rel="noopener noreferrer nofollow">finance</a> sector.</p>
<h2 id="staking-incentives-and-market-dynamics">Staking Incentives and Market Dynamics</h2>
<p style="text-align: justify">The rise in the volume of Ethereum staked on Lido can be attributed to the recent price jump beyond $3,400 and a rise in the annual percentage rate (APR) for staking on the platform. Lido Finance’s dashboard shows a consistent increase in the APR since late February, with the seven-day moving average APR for staking reported at 3.42%, indicating a near 5% increase in just over a week.</p>
<p style="text-align: justify">Furthermore, data from Dune Analytics reveals a notable decrease in withdrawals from Lido this year. In defiance of any downside expectations, daily deposits continue to swell, peaking with a high of 71,000 ETH on February 9. The last week also witnessed a net deposit of 48,000 ETH. Lido now commands a 31.16% market share within the Ethereum staking ecosystem, with 31% of Ethereum’s 986,000 validators being staked through Lido’s platform.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/lido-finance-hits-peak-earnings-and-enjoys-surge-in-ethereum-staking" rel="noopener noreferrer nofollow">Lido Finance Hits Peak Earnings and Enjoys Surge in Ethereum Staking</a></h5>

Lido Finance Hits Peak Earnings and Enjoys Surge in Ethereum Staking

Table of Contents

BH NEWS

Other articles published on Mar 4, 2024

Dogecoin Soars Beyond Expectations with Promising Targets

Meme Coin Mania: Can Solana's BONK, WIF Topple Dogecoin And Shiba Inu?

Bitcoin is at risk of a correction, thanks to these holders

Revolutionising Gaming: 10bet Sportsbook Casino Embraces the Power of Blockchain Technology

What’s Next for the Bitcoin Price Rally? Will it Breakout Through the ATH or Undergo a Minor Pull...

Cryptocurrency Monero's Price Increased More Than 3% Within 24 hours

Join our free newsletter for daily crypto updates!