Liquid staking protocol Lido mentioned its staked Ethereum on the Beacon Chain reached 5.05 million ($8.32 billion).

LDO surged 18% to $2.45 within the final 24 hours, in response to CryptoSlate knowledge. The token rose by 16% within the earlier seven days and 25% within the final 30 days.

Lido dominates liquid staking

On Feb. 6, Lido mentioned its staking deposits grew throughout all chains besides Kusama — which has decreased for the previous two weeks.

The overall worth of property locked (TVL) on the Lido rose by 5.5% within the final seven days to $8.48 billion — with the bulk being in ETH, in response to knowledge aggregator DeFillama.

Lido’s web site reveals that $8.32 billion in Ethereum was staked by way of its platform. Different property, like Polygon (MATIC), Solana (SOL), Kusama (KSM) and Polkadot (DOT) have a mixed worth of $155.06 million.

Lido mentioned its February incentives of 1.95 million LDO tokens have been now stay.

In the meantime, Lido stays the dominant staking service supplier — controlling 29.3% of the market. The protocol additionally doubles because the dominant DeFi protocol, holding round 17.31% of the market.

Frax Ethereum surges

Frax Ethereum’s (frxETH) TVL elevated by roughly 77% prior to now month to $144 million, in response to DeFillama knowledge.

frxETH’s provide grew by 70,000 ETH inside three months, making it the fourth-largest ETH liquid staking derivatives (LSD), Blockchain analytical agency Nansen reported.

In the meantime, CryptoSlate knowledge reveals that the ecosystem’s native token Frax Share (FXS), has benefitted from the elevated curiosity. FXS rose roughly 30% within the final 24 hours to $13.06 and surged 120% during the last 30 days.