{"id":534035,"date":"2023-05-19T14:30:49","date_gmt":"2023-05-19T14:30:49","guid":{"rendered":"https:\/\/uniquehot.com\/?p=534035"},"modified":"2023-05-19T14:11:43","modified_gmt":"2023-05-19T14:11:43","slug":"lido-eth-deposits-reach-record-high-amidst-steth-withdrawals","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/defi\/lido-eth-deposits-reach-record-high-amidst-steth-withdrawals\/","title":{"rendered":"Lido’s ETH Deposits Reach Record High Amid Stagnant stETH Withdrawals"},"content":{"rendered":"

Lido (LDO), the leading liquid staking derivatives (LSD) protocol, recently made waves in the crypto community by enabling staked ETH (stETH) withdrawals. Expectations were high as many anticipated a surge in stakers unstaking their ETH. <\/span><\/p>\n

However, contrary to these predictions, Lido<\/a> has witnessed a remarkable increase in ETH deposits, reaching a record-breaking level<\/a>. This surge has also been reflected in the protocol’s native token which has recorded a rally of more than 20% in the past week.<\/span><\/p>\n

Related Reading: Lido (LDO) Surges 16% In Single Day, Maintains Dominance In Liquid Staking Market<\/a><\/div>\n

ETH Deposits Soar to New All-Time High<\/span><\/h2>\n

Despite the introduction of stETH withdrawals, Lido experienced a surge in ETH deposits, defying expectations of widespread unstaking. On Friday, the platform witnessed a significant milestone as the total number of ETH deposited hit an all-time high.<\/span><\/p>\n

\n
\"ETH
ETH Staked on LSDs over time. | Source: Nansen<\/a><\/figcaption><\/figure>\n<\/div>\n

According to data<\/a> provided by Lido, an astounding 6,373,289 ETH is currently staked with Lido, equivalent to more than $11.5 billion. Interestingly, while ETH deposits on Lido continue to soar, stETH withdrawals have remained stagnant around the 450,000 ETH mark, as reported by data<\/a> from Nansen. <\/span><\/p>\n

It is worth noting that these withdrawal requests have yet to be processed, contributing to the overall stability of stETH withdrawals. This trend raises questions about the anticipated unstaking frenzy, prompting a closer examination of the factors influencing stakers’ decisions.<\/span><\/p>\n

As the most significant liquid staking derivatives protocol, Lido holds an impressive 75% market share, surpassing its competitors in the Liquid staking (LSD) space<\/a>. Notably, according to data from Nansen, Coinbase and Rocket Pool trail behind, occupying the second and third positions.<\/span><\/p>\n

Furthermore, while it may sound like positive news that ETH deposit is surging while withdrawal flattens, it is worth noting there are several reasons behind this so as not to get carried away. On the one side, the stabilized withdrawal can be attributed to the pending processing of withdrawal requests.<\/span><\/p>\n

On the other side, it can be attributed to\u00a0stakers’ long-term commitment to the protocol and the attractiveness of Lido’s offerings amidst the volatile crypto landscape. <\/span><\/p>\n

Lido Surges 20% In The Past Week<\/h2>\n

Along with its surge in market share, Lido native\u00a0token LDO’s price has experienced an upward trend<\/a>\u00a0in the past week up by more than 20%. Lido has surged from a low of $1.81 seen last Friday to trading as high as $2.48 on Wednesday.<\/p>\n

Related Reading: Lido DAO (LDO) Surges Nearly 20% In The Past 7 Days, Here\u2019s Why<\/a><\/div>\n

LDO market capitalization has also recorded huge gains in the past 7 days. LDO’s market cap has surged 20.7% from a cap low of $1.5 billion to a high of over $2 billion on Wednesday. Meanwhile, LDO’s daily trading volume has only continued to range between $60 million and $100 million throughout the week.<\/p>\n

\"Lido
Lido DAO (LDO)\u2019s price is moving sideways on the 1-Day chart. Source: LDO\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Interestingly, the asset has plunged over the past 24 hours down by 4.4%. LDO currently trades slightly above $2 with a price of $2.18 at the time of writing with a 24-hour trading volume of $62.1 million.<\/p>\n

Featured image from Analytic Vidhya, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Lido (LDO), the leading liquid staking derivatives (LSD) protocol, recently made waves in the crypto community by enabling staked ETH (stETH) withdrawals. Expectations were high as many anticipated a surge in stakers unstaking their ETH. However, contrary to these predictions, Lido has witnessed a remarkable increase in ETH deposits, reaching a record-breaking level. This surge has also been reflected in the protocol’s native token which has recorded a rally of more than 20% in the past week. Related Reading: Lido (LDO) Surges 16% In Single Day, Maintains Dominance In Liquid Staking Market ETH Deposits Soar to New All-Time High Despite the introduction of stETH withdrawals, Lido experienced a surge in ETH deposits, defying expectations of widespread unstaking. On Friday, the platform witnessed a significant milestone as the total number of ETH deposited hit an all-time high. According to data provided by Lido, an astounding 6,373,289 ETH is currently staked with Lido, equivalent to more than $11.5 billion. Interestingly, while ETH deposits on Lido continue to soar, stETH withdrawals have remained stagnant around the 450,000 ETH mark, as reported by data from Nansen. It is worth noting that these withdrawal requests have yet to be processed, contributing to the overall stability of stETH withdrawals. This trend raises questions about the anticipated unstaking frenzy, prompting a closer examination of the factors influencing stakers’ decisions. As the most significant liquid staking derivatives protocol, Lido holds an impressive 75% market share, surpassing its competitors in the Liquid staking (LSD) space. Notably, according to data from Nansen, Coinbase and Rocket Pool trail behind, occupying the second and third positions. Furthermore, while it may sound like positive news that ETH deposit is surging while withdrawal flattens, it is worth noting there are several reasons behind this so as not to get carried away. On the one side, the stabilized withdrawal can be attributed to the pending processing of withdrawal requests. On the other side, it can be attributed to\u00a0stakers’ long-term commitment to the protocol and the attractiveness of Lido’s offerings amidst the volatile crypto landscape. Lido Surges 20% In The Past Week Along with its surge in market share, Lido native\u00a0token LDO’s price has experienced an upward trend\u00a0in the past week up by more than 20%. Lido has surged from a low of $1.81 seen last Friday to trading as high as $2.48 on Wednesday. Related Reading: Lido DAO (LDO) Surges Nearly 20% In The Past 7 Days, Here\u2019s Why LDO market capitalization has also recorded huge gains in the past 7 days. LDO’s market cap has surged 20.7% from a cap low of $1.5 billion to a high of over $2 billion on Wednesday. Meanwhile, LDO’s daily trading volume has only continued to range between $60 million and $100 million throughout the week. Interestingly, the asset has plunged over the past 24 hours down by 4.4%. LDO currently trades slightly above $2 with a price of $2.18 at the time of writing with a 24-hour trading volume of $62.1 million. Featured image from Analytic Vidhya, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":534045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[8323,1946,86029,88315],"class_list":["post-534035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-eth","tag-ethereum","tag-lido","tag-steth"],"acf":[],"yoast_head":"\nLido's ETH Deposits Reach Record High Amidst Stagnant stETH Withdrawals<\/title>\n<meta name=\"description\" content=\"Lido, the leading liquid staking derivatives (LSD) protocol, recently made waves in the crypto community by enabling staked ETH (stETH)...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Lido’s ETH Deposits Reach Record High Amid Stagnant stETH Withdrawals","url":"http:\/\/uniquehot.com\/news\/defi\/lido-eth-deposits-reach-record-high-amidst-steth-withdrawals\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/defi\/lido-eth-deposits-reach-record-high-amidst-steth-withdrawals\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/Lido-hits-record-high-in-ETH-deposits.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/Lido-hits-record-high-in-ETH-deposits.jpeg?fit=750%2C536"},"articleSection":"DeFi","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","lido","steth"],"dateCreated":"2023-05-19T14:30:49Z","datePublished":"2023-05-19T14:30:49Z","dateModified":"2023-05-19T14:30:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Lido’s ETH Deposits Reach Record High Amid Stagnant stETH Withdrawals\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/defi\\\/lido-eth-deposits-reach-record-high-amidst-steth-withdrawals\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/defi\\\/lido-eth-deposits-reach-record-high-amidst-steth-withdrawals\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Lido-hits-record-high-in-ETH-deposits.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Lido-hits-record-high-in-ETH-deposits.jpeg?fit=750%2C536\"},\"articleSection\":\"DeFi\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"lido\",\"steth\"],\"dateCreated\":\"2023-05-19T14:30:49Z\",\"datePublished\":\"2023-05-19T14:30:49Z\",\"dateModified\":\"2023-05-19T14:30:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/Lido-hits-record-high-in-ETH-deposits.jpeg?fit=750%2C536","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/534035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=534035"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/534035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/534045"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=534035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=534035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=534035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}