Staking Ethereum Surges Past $8B: Lido Dominates, Frax Ethereum On The Rise
• Lido said its staking deposits grew across all chains except Kusama, with the majority of assets staked being in ETH.
• The value of assets locked (TVL) on Lido rose by 5.5% in the last seven days to $8.48 billion.
• Frax Ethereum’s (frxETH) TVL increased by roughly 77% in the past month to $144 million, while its native token Frax Share (FXS), surged 120%.
Lido Reaches 5M Staked Ethereum
Lido said its staked Ethereum on the Beacon Chain reached 5.05 million ($8.32 billion). This caused their token, LDO, to surge 18% to $2.45 according to CryptoSlate data. The total value of assets locked (TVL) on the Lido rose by 5.5% in the last seven days to $8.48 billion — with the majority being in ETH, according to data aggregator DeFillama.
Frax Ethereum On The Rise
Frax Ethereum’s (frxETH) TVL increased by roughly 77% in the past month to $144 million, according to DeFillama data. Meanwhile, CryptoSlate data shows that the ecosystem’s native token Frax Share (FXS), has benefitted from the increased interest and rose roughly 30% in the last 24 hours to $13.06 and surged 120% over the last 30 days.
In addition, Lido stated that their February incentives of 1.95 million LDO tokens were now live and they remain as a dominant staking service provider — controlling 29