Reportedly, liquid staking solutions have experienced a $280 million increase
DefiLlama, a crypto analytics firm, reported that liquid staking platforms such as Rocket Pool and Lido acquire more total value locked (TVL) in comparison to decentralised exchanges (DEXs), stated Cointelegraph.
With insights from archived information on April 13, 2023, about $17.19 billion of crypto was staked in liquid staking contracts, compared to $18.89 billion in DEXs. Sources revealed that DEXs saw a reduction of about $1.66 billion to $17.2 billion, while liquid staking platforms have experienced a $280 million increase to $17.47 billion, Cointelegraph highlighted.
As reported by Cointelegraph, liquid staking network help to stake and issue crypto on behalf of users and can be used in DeFi platforms. It is expected that liquid staking regulations will allow users to stake coins and use them simultaneously, Cointelegraph concluded.
(With insights from Cointelegraph)
Source:financialexpress.com