• Liquid staking tokens have seen their values increase by 15%, following news that Ethereum withdrawals will be enabled on April 12th.
• Frax Share (FXS) is the best-performing liquid staking derivatives token of the last 24 hours, increasing by 19.63%.
• Lido remains the most dominant liquid staking platform, with its token (LDO) rising 15.57% in the past 24 hours to $2.43.
Liquid Staking Tokens Rally
Liquid staking tokens have seen their values increase by 15%, following news that Ethereum withdrawals will be enabled on April 12th with the upcoming Shapella network upgrade. All seven projects in this space have surged by more than 5%.
Frax Share Leads Peers
Frax Share’s FXS is the top-performing liquid staking derivative token over the reporting period — up 19.63%. The total value of assets locked (TVL) for Frax Ethereum surged 31.49% in the past 30 days to an all-time high of $231 million — equating to 131,970 ETH tokens according to DeFillama data.
Lido Remains Dominant LSD
Despite Lido developer’s decision to sunset its staking services for Polkadot and Kusama, the protocol’s TVL rose 6.51% to $10.89 billion according to Dune Analytics data — accounting for roughly 32% of all staked ETH and 21.8% market dominance according to DeFillama data. Its LDO token increased by 15.57% in the past 24 hours to $2.43 at time of writing.
Other Popular Liquid Staking Platforms
Besides Lido, other popular liquid staking protocols include Rocket Pool (RPL), StakeWise (SWISE), ANKR, and Stafi (FIS). All these platforms recorded gains ranging from 4-9% over the same reporting period as investors continue taking advantage of liquidity incentives offered through various DeFi protocols and yield farming activities across multiple blockchains like Ethereum and Binance Smart Chain (BSC).
Conclusion
Overall, Liquid Staking has emerged as one of crypto industry’s best performing sectors after rallying by more than 15%. This renewed interest follows news that highly anticipated Shapella network upgrade — which will enable staked Ethereum withdrawals — is set to activate on April 12th at epoch 194048 according to an Ethereum Foundation statement..
