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Liquid Staking Solutions Overtake Decentralized Exchanges in Total Value Locked

Liquid Staking Solutions Overtake Decentralized Exchanges in Total Value Locked

At the time of writing, liquid staking solutions TVL is $17.41 billion, while DEXs TVL is $17.18 billion. 

Liquid staking solutions, including Lido and Rocket Pool, have now outpaced decentralized exchanges (DEXs) in terms of total value locked (TVL), establishing themselves as the frontrunners in the realm of DeFi protocols.

The news was revealed by the crypto analytics platform DefiLlama which claimed that such a phenomenon occurred for the first time in liquid staking history.

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TVL is an indicator that calculates the dollar value of all cryptocurrencies contained within a protocol's smart contracts.

It is worth noting that according to archived data, liquid staking protocols have only recently climbed to the top. On April 13th, there was just $17.19 billion in crypto locked-in liquid staking contracts, compared to $18.89 billion in DEXs.

However, things took a turn when DEXs experienced a decline of $1.66 billion, dropping its TVL to $17.2 billion. At the same time, liquid staking solutions have seen a $280 million growth surging its TVL to $17.47 billion and securing the leading position.

Liquid staking protocols are solutions allowing users to stake their crypto assets simultaneously, maintaining their liquidity.

Data from DefiLlama on May 2nd showed that Lido (stETH) continues to hold the top spot among staking protocols with $11.56 billion of cryptocurrency locked within its contracts.

Coinbase Wrapped Staked Ether (CBETH) ranks second with $2.19 billion locked, while Rocket Pool (rETH) comes in third with $1.47 billion. The rest of the protocols have less than $1 billion of TVL each but collectively contribute to $2.22 billion.

On April 24th, Ether (ETH) staking withdrawals reached their third surge since the Shanghai upgrade.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.



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