Lido Staking Data Shows Increase in TVL and stETH Rate

Lido's Weekly Staking Update: October 7-14

In a recent report by Odaily, Lido disclosed its staking data for the week spanning from October 7 to October 14, highlighting interesting trends in the Ethereum staking landscape.

Increase in Total Value Locked (TVL)

The aggregated data reveals that the Total Value Locked (TVL) increased slightly by 0.58%, reaching a total of $24.1 billion. This uptick can be attributed to the recent rise in ETH prices, indicating a robust market sentiment among investors.

ETH Unstaked Through Lido

Despite the positive movement in TVL, the net amount of ETH that was unstaked through Lido saw a decrease of 0.62%, totaling 52,128 ETH. This reduction may reflect users' confidence in staking, as they choose to hold onto their positions rather than unstake their assets.

Staked ETH (stETH) Performance

The performance of stETH also demonstrated a positive trend, with the 7-day stETH rate rising by 19 basis points, now standing at 3.17%. This growth in yield may encourage more investors to participate in the staking process.

Trading Volume Insights

The trading volume for stETH during this week amounted to $863.09 million, marking an increase of 2.11% compared to the previous week. This increase signals growing interest and activity in the stETH market.

Growth in wstETH Bridging

Furthermore, the amount of wstETH that was bridged also experienced significant growth, increasing by 4.80% to reach 208,043 wstETH during the same period. This enhancement indicates that users are actively leveraging their staked ETH across different platforms.

Conclusion

Overall, Lido's latest staking data for the week of October 7-14 reflects a positive trajectory within the Ethereum staking ecosystem. With increasing TVL, rising stETH rates, and growing trading volumes, it's clear that Lido remains a significant player in the world of Ethereum staking. Investors are encouraged to stay informed about market trends to make educated decisions.