Lido Analytics revealed that the Total Value Locked (TVL) surged by 1.36% to $33.48 billion. This increase was primarily fueled by the addition of 95,616 ETH staked through Lido, indicating a sustained trust in the platform’s staking services. The 7-day Annual Percentage Rate (APR) for stETH saw a marginal drop of 0.04% to 2.96%. Despite this decrease, Lido continued to draw in significant new deposits, emphasizing its attractiveness to stakers seeking reliable returns.
Lido Analytics: June 24 – July 1, 2024
TLDR:
– TVL rises by 1.36% to $33.48b.
– 95,616 net new ETH staked via Lido.
– 7d stETH APR at 2.96%.
– wstETH on Layer 2 climbs by 7.19% to 141,586 wstETH.
– (w)stETH 7d trading volume at $1.23b.
— Lido (@LidoFinance)
July 2, 2024
The quantity of Lido’s wrapped stETH (wstETH) on Layer 2 networks escalated by 7.19%, totaling 141,586 wstETH. Noteworthy shifts on these networks included a significant rise in Scroll, surging by 86.26% to 21,181 wstETH. The Base network also saw growth of 1.55% to 14,895 wstETH. However, minor declines on Arbitrum, Optimism, Polygon, Linea, and zkSync Era indicated the dynamic nature of staking across diverse platforms.
Upward Trend for stETH in DeFi and Cosmos
The amount of (w)stETH in DeFi lending pools exhibited a slight uptick of 0.63%, reaching 2.70 million stETH. Similarly, (w)stETH in liquidity pools increased by 0.62%, totaling 83.5k stETH. On the Cosmos network, wstETH saw a modest upsurge of 2.12%, bringing the total to 1,788 wstETH. These figures underscore the expanding integration and utilization of stETH across different DeFi ecosystems and networks.
Despite generally positive indicators, the 7-day trading volume for (w)stETH witnessed a 7.25% decrease, amounting to $1.23 billion for the week. This decline in trading volume signifies a temporary slowdown in trading activity, yet it remains within a healthy range given the overall market conditions.
These developments showcase Lido’s ongoing growth and resilience in the staking and DeFi sector. While some metrics displayed minor fluctuations, the overall trajectory points to strong performance and increasing adoption of Lido’s staking solutions.