The total value locked in Lido surpassed $15 million for the first time since May 2022, according to the Ethereum staking protocol.

In its second Lido Monthly Report, the team also noted that the protocol "consistently experienced large monthly net inflows of ETH deposits," despite the ability to withdraw staked ether being activated earlier this year.

"As a result of this continuous growth, the protocol appears poised to surpass eight million staked ETH next month," it added.

Furthermore, Lido claims to have experienced "remarkable adoption of the protocol" through more than 10,000 new stakers using it — an increase of more than 50% over the previous month.

According to The Block's Data Dashboard, cumulative deposited ether and Ethereum validators have largely been up-only …