Lido Staking Data: TVL and stETH Rate Show Mild Increase

Lido's Weekly Staking Update (October 7 - October 14)

In the latest report from Odaily, Lido has shared its staking data for the week spanning from October 7 to October 14. This data provides valuable insights into the performance of staking activities and the dynamics of the Ethereum network.

Increase in Total Value Locked (TVL)

The report indicates a slight increase in the Total Value Locked (TVL) in Lido, attributed primarily to a rise in ETH prices. This week, the TVL increased by 0.58%, reaching a total of $24.1 billion.

Decrease in Unstaked ETH

Furthermore, the net amount of ETH unstaked through Lido saw a 0.62% decrease, totaling 52,128 ETH for the week. This decline highlights a steady commitment from users to hold their staked ETH amidst market fluctuations.

stETH Rate Performance

During this period, the 7-day stETH rate experienced a notable rise of 19 basis points, concluding the week at 3.17%. This increase indicates a healthy yield for stakers, reinforcing the attractiveness of staking with Lido.

Trading Volume Insights

The trading volume for stETH in the past week amounted to $863.09 million, indicating a 2.11% increase compared to the previous week. This uptick suggests growing interest and activity in the market.

Bridging Growth for wstETH

Additionally, the amount of wstETH bridged saw a significant rise, growing by 4.80% to reach 208,043 wstETH. This growth reflects the increasing utility and demand for wrapped stETH within various DeFi applications.

Conclusion

Overall, the latest staking data from Lido highlights positive trends in ETH staking, with growth in TVL and trading volume, coupled with a reduction in unstaked ETH and increased bridging activity. As the DeFi landscape continues to evolve, monitoring these metrics will be crucial for stakeholders within the ecosystem.