Key Metrics and Overview: Liquid Staking Deposits and Withdrawals on Ethereum (August 2024)

Total Inflow and Valuation:

• Total Ether Deposited: 110,000 ETH
• Total Value: $292 million
• Reporting Period: Past week (from August 10 to August 18, 2024)

Platform-Specific Insights:

1. Binance Staked Ether Protocol:

   • Percentage of Total Inflow: 88.27% (97,098 ETH)
   • Current Ether Holdings: Increased from 912,902 ETH to 1.01 million ETH
   • Significance: Binance’s liquid staking protocol surpassed the 1 million ETH threshold, reflecting strong growth and dominance in the market.

2. Lido:

   • Previous Holdings: 9.81 million ETH
   • Current Holdings: 9.82 million ETH
   • Market Share: 71.67% of locked ETH
   • Recent Gain: 10,000 ETH
   • Significance: Maintains the largest market share, showing consistent growth in ether deposits.

3. Rocket Pool:

   • Previous Holdings: 1.18 million ETH
   • Current Holdings: No significant change
   • Percentage Increase (30 days): 1.08%
   • Significance: Stable holdings with minor percentage increase, reflecting steady performance.

4. Mantle:

   • Previous Holdings: 488,734 ETH
   • Current Holdings: 507,452 ETH
   • Increase: 18,718 ETH
   • Significance: Notable increase, indicating growth and enhanced attractiveness.

5. Smaller Protocols:

   • Coinbase: Decrease of 90 ETH
   • Frax: Loss of 1,849 ETH
   • Stakestone: Reduction of 6,106 ETH
   • Significance: Smaller protocols experiencing declines, highlighting challenges and competitive pressures.

Trends and Observations:

• Consolidation of Market Share: Major platforms like Binance and Lido continue to consolidate their positions, reflecting strong user trust and capital inflows.
• Competitive Landscape: Smaller players are facing difficulties, as evidenced by outflows from platforms like Frax and Stakestone.
• Market Dynamics: The overall inflow indicates growing interest in liquid staking, with significant contributions from leading platforms driving the majority of the deposit volume.