Lido Finance continues to solidify its position as a frontrunner in the cryptocurrency staking landscape, boasting a dominant market share of more than 28%.
According to insights from IntoTheBlock, a prominent market intelligence platform, Lido’s strong foothold is evident in their Ethereum Staking Market Share indicator, which showcases the distribution of staking services across the industry.
IntoTheBlock’s recent data reveals that Lido Finance stands as the indisputable leader in the staking realm, claiming over 28% of the total market share.
This impressive share highlights Lido’s prominence in facilitating staking activities within the cryptocurrency ecosystem.
The Ethereum Staking Market Share indicator offers valuable insights into the industry’s dynamics. Following Lido Finance, Coinbase and Stakefish emerge as notable players, securing the second and third largest staking service positions with market shares of 7.72% and 5.69% respectively. The top 5 staking services are rounded out by Kraken, Binance, and Figment.
Kraken captures a 5.33% market share, while Binance and Figment follow closely with staking market shares of 5.22% and 3.83% respectively.
The spectrum also encompasses participants like Rocketpool, claiming a 2.91% market share, and Staked.us with a market share of 2.42%.
Notably, IntoTheBlock’s data indicates that a segment of the staking market, accounting for 10.22%, falls under the “others” category.
Furthermore, an intriguing aspect lies in the fact that approximately 28.41% of the staking market share remains unidentified.
On a related note, CoinMarketCap, a renowned market tracking website, reported a price decline for Lido DAO (LDO) over the past 24 hours of trading.
LDO’s value decreased by 1.98%, settling at $1.85. This brought LDO closer to its daily low of $1.82 compared to its 24-hour high of $1.89.
In tandem with the price dip, LDO’s trading volume experienced an 18% reduction, resulting in an altcoin volume of $56,043,038. The week’s performance showcased a decline of over 5% for LDO.
With a market capitalization of $1,626,027,549, LDO maintains its position as the 34th largest cryptocurrency by market capitalization.
Despite the recent price fluctuations, Lido DAO’s enduring presence in the market underscores its relevance within the broader cryptocurrency ecosystem.
