Regardless of the increase in the number of locked coins, the profit from staking the digital currency ETH has achieved a high figure.
The Lido platform, which is the leading service provider, related to Ethereum staking, noted that from 10/31/2022 to 11/14/2022, the number of locked coins increased by 95,548 ETH ($1,200,000). And on 11/14/2022, stakers' income reached a historic high of 11.33% per annum. But on November 15, 2022, this figure decreased to 10.21%.
At the moment, 30.22% of the total amount of blocked ETH is part of Lido and 98,767 people are startup clients. Such a huge popularity of the site among customers is associated with the ability to use liquid staking. Instead of locked ETH, users are given Lido Staked ETH (stETH) coins, which are applied in different ways in DeFi. For example, with their help, you can sell / take a loan.
Recently, Glassnode noticed that Ethereum stocks on cryptocurrency exchanges are almost depleted. Based on their research, it can be seen that over the past week, traders have managed to withdraw 1,100,000 ETH (that's $137.5 million) from the accounts of the trading platforms. Therefore, such an increase in the number of blocked assets on the Lido platform is explained by the desire of crypto exchange users to profit from liquid staking.
