Lido Finance Emerges as Staking Powerhouse with Over 28% Market Share

Lido Finance continues to dominate the cryptocurrency staking landscape, securing an impressive 28% of the total market share, as reported by market intelligence platform IntoTheBlock.

The Ethereum Staking Market Share indicator reveals the distribution of staking services within the industry, with Lido Finance leading the pack.

Let’s delve deeper into the insights provided by this indicator and explore the latest developments in the staking market.

IntoTheBlock’s Ethereum Staking Market Share indicator highlights Lido Finance’s prominent position as the foremost staking service, capturing over 28% of the total market share.

This underscores Lido Finance’s influence and widespread adoption within the cryptocurrency staking realm.

Following Lido Finance, Coinbase and Stakefish emerge as the second and third largest staking services, boasting market shares of 7.72% and 5.69% respectively.

Notably, Kraken, Binance, and Figment round out the top five staking services, each holding substantial market shares: Kraken at 5.33%, Binance at 5.22%, and Figment at 3.83%.

The staking industry’s dynamism is reflected in the presence of other players, constituting 10.22% of the market share categorized as “others.”

An intriguing aspect of this landscape is the 28.41% of the staking market share that remains unidentified, adding an element of mystery to the staking ecosystem.

In a related context, CoinMarketCap, a market tracking website, observed a price dip in Lido DAO (LDO) over the past 24 hours of trading.

LDO’s value stood at $1.85 after experiencing a 1.98% decrease, bringing it closer to its daily low of $1.82 rather than its 24-hour high of $1.89.

The altcoin’s trading volume also witnessed an 18% drop over the day, leaving it with a volume of $56,043,038.

The minor setback in LDO’s price impacted its weekly performance, resulting in a decline of more than 5% over the past seven days.

Nevertheless, LDO maintains its position as the 34th largest cryptocurrency in terms of market capitalization, boasting a market cap of $1,626,027,549.