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TVL on the LIDO platform has reached $23.8 billion
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TVL on the LIDO platform has reached $23.8 billion

Jan 17, 2024

According to the latest data published by the analytical company CryptoRank, the decentralized finance (DeFi) sector is experiencing stability, especially in the area of Liquid Staking Ethereum. In this context, the platform Lido (LDO) stands out, taking the leading position with a Total Value Locked (TVL) of $23.8 billion.

Following Lido are Rocket Pool (RPL) with a TVL of $3.15 billion and Binance Staked ETH (BETH) with $1.97 billion. The top ten list also includes Frax Ether (FRS) with $780 million, Mantle Staked ETH (MNT) - $721 million, Jito (JTO) - $636 million, Marinade (MNDE) - $616 million, Coinbase (wstETH) - $528 million, Swell Liquid Staking (SWELL) - $373 million, and Stader (SD) - $346 million.

Liquid staking protocols used in DeFi are algorithmic systems that allow users to gain liquidity by staking or freezing their digital assets. These protocols provide the opportunity to use locked assets in other financial operations, such as lending or trading, thereby increasing potential returns.

The Total Value Locked (TVL) in DeFi is an important metric that reflects the volume of cryptocurrency assets locked or invested in various protocols. This indicator demonstrates the overall size and attractiveness of the market and individual products. TVL also serves as a key indicator for assessing the growth and development of the DeFi ecosystem, reflecting user trust and interest in various protocols and enabling comparisons and analysis of the popularity of different products.

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