Ethereum

Lido DAO

<p>As of recent data, the Ethereum network boasts an impressive <a href="https://blockchainreporter.net/understanding-total-value-locked-tvl-in-cryptocurrency/" rel="noopener noreferrer nofollow">total value locked (TVL)</a> of approximately $46 billion. It reflects its significant role in the <a href="https://blockchainreporter.net/defi-decentralized-finance/" rel="noopener noreferrer nofollow">decentralized finance (DeFi) </a>ecosystem. As per the data provided by DefiLlama, it highlights how this value is been distributed across different protocols.</p><h2 id="header-0">Lido Dominates Ethereum Staking with $23.5B TVL</h2><p>The leading cryptocurrency with a high TVL of $23.5 billion is Lido (LDO). This dominance underlines Lido’s importance in the Ethereum staking market and its ability to offer liquid staking products that enable customers to earn rewards while keeping their assets highly liquid. After Lido, Eigenlayer (EIGEN) has the second-highest TVL of $11.3 billion. Eigenlayer has taken an unconventional way to secure Ethereum’s network availability by permitting the staking asset to be reused, which has gained a lot of attention.</p><p>Aave has $9.29 billion in Total Value Locked. The availability of a wide range of lending and borrowing services provided by Aave helps the platform to maintain a high level in the context of DeFi. On the other hand, Maker (MKR) with the TVL of $6.12 billion, plays an essential role in DeFi ecosystem.</p><p>ETHFI is on second place with a total value locked of $ 5.63 billion offering different types of DeFi services that gather large amounts of capital. Among the leading DEXs, UNI holds $3.47 billion TVL, which evidences the significance of the platform for trading and offering liquidity in the Ethereum ecosystem.</p><h2 id="header-1">DeFi Protocols See Record TVL as Ethereum Expands Services</h2><p>As for staking proto-DeFi, RPL, associated with the Rocket Pool, now has a record $3 billion in TVL, which indicates that the service is gaining more and more weight in the staking segment. For instance, ENA has a TVL of $2.69 billion, while BETH has a TVL of $2.45 billion, which offers a diverse set of Ethereum-based DeFi solutions. Finally, with the TVL of $2.32 billion, SPK shows that Ethereum is expanding the types of financial services available.</p><p>Finally, the breakdown of the total value locked in these leading Ethereum protocols, obtained from <a href="https://defillama.com/" rel="noopener noreferrer nofollow">DefiLlama</a>, shows how the DeFi industry is continually evolving and growing. The TVL of each protocol shows its relevance and usage in the overall Ethereum network environment.</p><p>Share<a href="https://twitter.com/intent/tweet?text&#61;Ethereum%20Network%20Hits%20%2446B%20TVL%2C%20Led%20by%20Lido%20and%20Major%20DeFi%20Protocols%20via%20%40blockchainrptr&amp;url&#61;https%3A%2F%2Fblockchainreporter.net%2Fethereum-network-hits-46b-tvl-led-by-lido-and-major-defi-protocols%2F" rel="noopener noreferrer nofollow"> </a></p>

Ethereum Network Hits $46B TVL, Led by Lido and Major DeFi Protocols

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