Total value locked in liquid staking protocol Lido surpasses $30 billion

Published 1 minute earlier on

Quick Take

Liquid staking protocol Lido hit $30.56 billion in total value locked on Feb. 26.
The protocol now controls 32% of staked ether on the network.

Ethereum liquid staking protocol Lido reached $30.56 billion in total value locked in Feb. 26, according to The Block's Data Dashboard.

Lido has seen increased adoption and steadily rising TVL since around July 2022. Lido's last major peak in TVL was $20.83 billion on April 5, 2022, a month before the collapse of the Terra USD stablecoin ecosystem.

TVL describes the amount of capital invested in, or "locked," inside a decentralized finance protocol, and it's a key indicator for the popularity of that protocol. Lido has a vast lead in the total value locked of liquid staking protocols, with Rocket Pool next in line at $3.8 billion in TVL.

Lido's high TVL makes it the biggest validator on the proof-of-stake blockchain Ethereum, controlling 32% of staked ether. While Lido is a single protocol, it works with 36 entities to run the nodes and manage the block production process.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.