Ethereum Shapella Upgrade Expected To Boost Liquid Staking Protocols
06 Abril 2023 - 2:32PM
NEWSBTC
In decentralized finance (DeFi), Ethereum (ETH) liquid staking has
become a significant market valued at over $15 billion. This market
is set to see a significant boost with the upcoming Shapella
upgrade, which is expected to unlock the entire liquid staking
market in less than a week, according to DeFi researcher Thor
Hartvigsen. Liquid staking allows users to earn staking rewards
while maintaining the flexibility to use their stakes assets for
other purposes. It’s a win-win situation for both the protocol and
the user, as it helps to secure Ethereum’s network while generating
additional revenue for the user. With this said, what protocols are
better positioned to benefit from the next Ethereum Shapella
upgrade? Related Reading: Can Dogecoin Rally Further? Here’s What
On-Chain-Data Says 3 Protocols To Watch Ahead Of Ethereum Shapella
Upgrade Liquid staking has become an increasingly popular way for
investors to earn rewards on their Ethereum holdings while
maintaining flexibility in their usage. According to Hartvigsen,
since the start of the year, the total amount of ETH staked via
liquid staking has increased by a significant 21%, from 6.8 million
to over 8 million ETH. However, despite the benefits of
liquid staking, there has been a lingering concern among investors
regarding the risk of being unable to unstaked or redeem their
liquid-staked assets at their true value. Fortunately, the upcoming
Shapella upgrade is set to address these issues. According to
Hartvigsen, few protocols have gained market share and are well
positioned to continue the increasing trend of liquid staking
post-Shapella. These protocols include: Rocket Pool is a DeFi
staking network that allows users to stake any amount of ETH,
regardless of the size of their holdings. The platform has been
gaining traction in the market, as evidenced by its recent Q1
stats. In the first quarter of the year, Rocket Pool saw an
inflow of 90,000 ETH staked on the protocol, a significant increase
from the previous quarter and indicative of the growing demand for
liquid staking services. Rocket Pool’s market share increased from
4.9% to 5.3% in the first quarter. Lido Finance is a liquid
staking protocol that allows users to stake their ETH and receive a
tokenized representation of their staked ETH, known as stETH. The
platform has been gaining momentum in the market. In the
first months of the year, Lido Finance saw an inflow of 1.09
million ETH staked on the protocol, representing a significant
increase of over 22% from the previous quarter. Despite a slight
decrease in market share from 74% to 72%, Lido Finance remains a
dominant player in the liquid staking market, according to
Hartvigsen. In addition, Lido Finance’s native token, LDOUSD,
has seen a significant increase in value. It has risen by 152% in
the first quarter. StakeWise is also well-positioned ahead of
the upcoming Shapella upgrade. StakeWise is a prominent DeFi
staking platform that allows users to stake ETH and receive a fixed
interest rate. The platform has been steadily gaining popularity in
the market. In Q1, StakeWise saw an inflow of 10,000 ETH staked on
the protocol, according to Hartvigsen, representing a solid
increase of 12% from the end of 2023. Furthermore, the platform
generated $1.68 million in fees during the first quarter. In
addition to its strong market performance, StakeWise’s native
token, SWISEUSD, has seen a significant increase in value, which
has risen 128% in the first quarter of 2023. According to
Hartvigsen, as the Ethereum liquid staking market expands, each
protocol has arguments for future growth. According to the
researcher, the ETH liquid staking market is set to experience
significant growth in the coming months and years. Related
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