Liquid Staking Platforms Surging Ahead of Ethereum Shanghai Upgrade
Ethereum Liquid Staking Platforms Surging Ahead of Ethereum Shanghai Upgrade 01 / 09 / 2023 Balita ng Ethereum ng Bitcoin Cryptos newest narrative is liquid staking, as platforms and tokens have been taking off recently. Ethereum will go through the Pag-upgrade ng Shanghai in March, which releases ETH staked on the Beacon Chain. Industry analysts believe this will be good news for liquid staking protocols as they offer better incentives and yields. As opposed to direct staking, they provide a more flexible way to stake and earn without having to lock up the collateral. Liquid Staking Surging “Accessibility, immovability, and illiquidity are the top drawbacks of crypto staking,” the analyst added. Liquid staking platforms provide a staking token that can also be used in other DeFi protocols to generate additional yields. Lido is the industrys leading staking platform, with 4.8 million ETH staked, representing 30% of the total amount. Its governance token, LDO, has been on fire in recent weeks, gaining a whopping 57% over the past seven days. Other staking platform tokens, such as StakeWise (SWISE), have also performed well. The amount staked on platforms such as Lido, Rocket Pool, StakeWise, and Frax has also been steadily increasing as this new narrative gains momentum. Unlike Lido, Rocket Pool is permissionless