• Liquid Staked ETH protocols, such as Lido and Rocket Pool, remain resilient in the face of market volatility.
• Lido currently leads the sector with 28.9% market share while Rocket Pool is preparing for expansion.
• Frax Finance experienced a lower growth rate but saw an increase in revenue of 19.9%.

LSD Market remains Resilient

The cryptocurrency market has been subject to turbulence due to SEC’s lawsuit against Binance and subsequent token delistings, yet demand for Liquid Staked ETH (LSD) protocols remains strong.

Lido Leading the Sector

Data from token terminals shows that Lido has emerged as the dominant player in this sector, capturing 28.9% of the overall market share. Over the past month, Lido’s activity has surged by 38.9%. Meanwhile, Rocket Pool experienced a 6.1% increase in activity and no change in revenue during this period.

Frax Finance Experiences Low Growth

In comparison to other LSD protocols, Frax Finance witnessed a relatively lower growth rate with a 3.4% uptick in activity. Despite this, Frax Finance still managed to see an increase in revenue of 19.9%.

Rocket Pool Set for Expansion

Rocket Pool’s staked ETH (rETH) is set to be utilized on protocols like MakerDAO and Polygon which will significantly impact its growth and contribute to its rapid expansion.

Lido Enhancing Its Protocol

To further strengthen its position within this sector, Lido is establishing and funding the Community Lifeguards Initiative (CLI). This initiative will actively engage new community stakers and create educational content to facilitate greater understanding of LSD protocols amongst users.