Lido Analytics reported a 1.36% increase in Total Value Locked (TVL), reaching $33.48 billion. This growth was primarily driven by a net addition of 95,616 ETH staked through Lido, highlighting continued confidence in the platform’s staking services. The 7-day Annual Percentage Rate (APR) for stETH experienced a minor decrease, falling by 0.04% to 2.96%. Despite this slight dip, Lido continues to attract substantial new deposits, underscoring the platform’s appeal to stakers seeking reliable returns.
📊 Lido Analytics: June 24 – July 1, 2024
TLDR:
– TVL up 1.36% to $33.48b.
– 95,616 net new ETH staked through Lido.
– 7d stETH APR at 2.96%.
– wstETH on L2 up 7.19% to 141,586 wstETH.
– (w)stETH 7d trading volume at $1.23b.👇
— Lido (@LidoFinance) July 2, 2024
Lido’s wrapped stETH (wstETH) on Layer 2 networks rose significantly by 7.19%, totalling 141,586 wstETH. Notable movements within these networks included a substantial increase in Scroll, which surged by 86.26% to 21,181 wstETH. The Base network also grew by 1.55% to 14,895 wstETH. However, minor decreases on Arbitrum, Optimism, Polygon, Linea, and zkSync Era reflected the dynamic nature of staking across different platforms.
Increase in stETH in DeFi and Cosmos
The amount of (w)stETH in DeFi lending pools saw a slight increase of 0.63%, reaching 2.70 million stETH. Similarly, (w)stETH in liquidity pools rose by 0.62%, totalling 83.5k stETH. On the Cosmos network, wstETH experienced a modest increase of 2.12%, bringing the total to 1,788 wstETH. These figures highlight the growing integration and utilisation of stETH across various DeFi ecosystems and networks.
Despite the overall positive metrics, the 7-day trading volume for (w)stETH recorded a 7.25% decrease, totalling $1.23 billion for the week. This drop in trading volume suggests a temporary slowdown in trading activity, though it remains within a healthy range considering the overall market conditions.
These updates reflect Lido’s continued growth and resilience in the staking and DeFi space. While some metrics showed minor fluctuations, the overall trend indicates strong performance and increasing adoption of Lido’s staking solutions.