Lido’s Staked Ethereum (stETH) market cap reached an all-time high of over $12 billion.

According to BeinCrypto data, Lido stETH is now the eighth largest digital asset by market cap — ahead of top cryptocurrencies like Dogecoin, Solana, and Polygon.

The Cryptocurrency’s market cap first topped 12 billion on April 14 before dipping above and below the milestone figure several times during the week. Earlier in the week, DeFillama reported that over 6 million ETH had been locked on the DeFi protocol.

Liquid Staking Deposits Grow Post-Shapella

Since Ethereum enabled withdrawals for its users through the Shapella upgrade, liquid staking derivatives (LSD) protocols have seen the total value of assets locked (TVL) on their platforms rise.

The 82 liquid staking protocols tracked by DeFillama have a cumulative TVL of $17.06 billion — with Lido being the dominant player in the sector. These protocols have seen their TVL grow by an average of 10% in the last seven days.

A relatively new liquid staking protocol, Agility, has seen its TVL grow to $336.29 million from $62.9 million recorded on April 12, according to DeFillama data. The protocol’s growth in

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Author: Oluwapelumi Adejumo

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