• While Ethereum’s liquid staking gained popularity, its price remained under the $1,600 mark.
• Solana, on the other hand, registered growth both in terms of LSTs and price action.

Messari recently posted an analysis giving insights into the current liquidity staking market. The analysis mentioned that 2023 has been led by the meteoric rise of liquid staking protocols, especially by Ethereum [ETH] and other emerging protocols within Solana [SOL] and Cosmos [ATOM].

Read Ethereum’s [ETH] Price Prediction 2023-24

A look at Ethereum’s state in liquid staking

Recently hitting an all-time high of $22 billion, the vast majority of liquid staking TVL was on Ethereum.

As per Messari’s recent repost, liquid staking has become Ethereum’s largest DeFi sector by far. Liquid staking tokens, and specifically Lido’s stETH, are becoming further entrenched within Ethereum’s DeFi ecosystem, in competition with native ETH.

Liquid staking is now Ethereum’s largest DeFi sector by far.

Further, liquid staking tokens, and specifically Lido’s stETH, are becoming further entrenched within Ethereum’s DeFi ecosystem, in competition with native ETH. stETH’s monetary value rivals ETH as it inherits ETH’s… pic.twitter.com/617WlwfvHY

— Messari (@MessariCrypto) October 10, 2023

In fact, near

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Author: Dipayan Mitra

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