Ethereum

Future

Arbitrum

zkSync

Cosmos

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Lido Finance has surpassed Ethereum in fees earned in recent days.</li>
 <li>Despite the increasing interest in staking, the price of ETH has dropped.</li>
</ul>
<p>Lido Finance has outperformed <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> in terms of fees earned in the last few days.</p>
<h2 id="lido-s-performance">Lido’s Performance</h2>
<p>Over the past month, Lido Finance accumulated $20.8 million in fees within a single week. This amount surpasses the fees collected by Ethereum, which amounted to $19.8 million during the same timeframe.</p>
<p>This outstanding accomplishment positioned Lido Finance as the second-highest fee earner in the cryptocurrency sector for that week, trailing only behind Tron, which earned $33.7 million.</p>
<p>Lido Finance’s momentum persisted for the entire month. In total, Lido generated $98 million in fees, marking an 8% increase compared to the previous month.</p>
<p>This robust fee generation is likely attributable to Lido’s dominance in the staked ETH market. At the time of writing, Lido held over $33.4 billion in total staked assets, commanding a 29% market share in staked ETH.</p>
<p>Lido’s total value locked (TVL) rose by 1.36% this week, reaching $33.48 billion. This surge was fueled by a wave of new ETH staking deposits, with 95,616 net new ETH staked through Lido in the past seven days.</p>
<h2 id="positive-signs-for-lido">Positive Signs for Lido</h2>
<p>While the 7-day stETH APR dipped slightly by 0.04% to 2.96%, there were positive signs elsewhere.</p>
<p>Wrapped stETH (wstETH) bridged to Layer 2 networks saw a significant rise of 7.19%, bringing the total to 141,586 wstETH.</p>
<p>Arbitrum held the majority with 65,290 wstETH, followed by Optimism at 27,879 wstETH. Both networks experienced minor declines in the past week.</p>
<p>There was also a slight increase in wstETH deposited in lending pools and liquidity pools, reaching 2.70 million stETH and 83.5k stETH respectively.</p>
<p>wstETH bridged to Cosmos networks also saw a small uptick, reaching 1,788 wstETH up 2.12% in the past week.</p>
<p>Nonetheless, the 7-day trading volume for (w)stETH dipped 7.25% compared to the previous week, totaling $1.23 billion.</p>
<p>While Scroll saw a significant increase in wstETH up 86.26%, other networks like Base, Polygon, Linea, and zkSync Era experienced minor declines.</p>
<h2 id="future-of-eth">Future of ETH</h2>
<p>The growth and popularity of the Lido protocol suggest that users are increasingly interested in staking ETH.</p>
<p>Although ETH’s price may be stagnating at the moment, the surge in staking indicates that existing users believe in the long-term potential of ETH.</p>
<p>At the time of writing, ETH was trading at $3,336.23 and its price had declined by 3.15% in the last 24 hours.</p>

Lido Leads the Market in Staked ETH: Potential for Ethereum Price Surge?

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