Lido Hits Record $22 Billion TVL, Solidifying Its Defi Dominance

Yesterday marked an all-time peak for the leading decentralized staking solution, TVL, which is nearly $22 billion.

The 18% increase in TVL can be attributed to this expansion, fueled by a rise in the price of ETH and an increase in net ETH deposits.

Furthermore, Lido attracted more than two hundred thousand initial ETH stakes, and its stETH, which includes wstETH, increased by 10.34% in Defi ecosystems for a total of 3.52 million stETH.

Significant advancements have also been observed in the governance domain of Lido.

Proposed modifications to the wstETH bridge components and the Simple DVT staking module have been approved through successful Snapshot ballots.

The developments are crucial to improving the functionality and user experience of Lido.

Moreover, Lido has expanded market penetration in the domain of Defi through astute collaborations and integrations.

Its integration with Aave V3 on Base and listing on the Hashkey Exchange are noteworthy developments.

By implementing these measures, Lido enhances its market standing and accessibility to a more extensive demographic within the decentralized finance industry.

The continued dominance of Lido in the Defi market has generated considerable apprehension regarding the protocol’s excessive regulation of liquid staking.

In context, the TVL of the entire Defi market is $50.5 billion, with Lido holding approximately half of that amount.

Notwithstanding these apprehensions, the platform remains the predominant option for liquid tokens on the market.