Lido DAO Staked Ethereum (ETH) is close to 10 million
Lido DAO is set to reach a significant milestone of 10 million Ethereum (ETH) stake due to increasing ecosystem usage.
This development corresponds to the demand of validators who want to participate in ETH accumulation.
10 million ETH held by Lido Dao.
According to on-chain data, Lido DAO is about to exceed 10 million ETH stake.
Currently, the DeFi protocol holds an impressive 9.49 million ETH, representing 72% of Ethereum's liquidity, which is estimated at around $21.76 billion. These numbers reflect a significant growth trajectory for the protocol over the past year, with Lido Dao's total value locked (TVL) nearly doubling from 5 million in February 2023.
The common liquid volume of Ethereum in the sector showed a significant increase and reached 13.10 million ETH, with a value of 30.12 billion dollars.
Read more: 11 Best DeFi Platforms to Earn Lido Staked ETH (stETH)
The Lido DAO allowed stakeholders to mine ETH despite Ethereum's Capella update. The protocol currently ranks among the top three institutions that have issued ETH from its source chain since the network upgrade, including Coinbase and Kraken.
Beyond Ethereum, Lido DAO has a footprint on other blockchains. These are the Solana, Moonbeam, and Moonriver, priced at $16.96 million, $265,000, and $187,000, respectively.
The queue of Ethereum validators increases
Meanwhile, Ethereum's top-tier ecosystem is making significant progress. As of October 2023, the number of validators lining up to share their assets has risen to an all-time high.
Indeed, more than 6,000 validators have lined up to join the system. Further increasing the number of exits and the average waiting time for authenticator approval to about two days.
Read more: 7 top high-liquidity deposit platforms to watch
Validator entries began to increase on January 31 following a significant unexpected event from the discontinued Celsius network that caused over 16,700 validators to leave the system. Observers suggest that rising demand could push the number of active verifiers from 920,469 to one million.
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