In the past two weeks, liquid staking platforms saw a significant drop in Ethereum holdings. Around 60,000 ETH, valued at over $198 million, was withdrawn from these platforms, with Lido being the major contributor, pulling out 40,000 ETH.

Snapshot of the LSD Sector: $198 Million Ethereum Withdrawn in 14 Days

Liquid staking, a method of earning rewards on cryptocurrency holdings, experienced a decline. On April 15, 2024, there were 27 different liquid staking platforms holding 13.15 million ETH. This number has now decreased to 13.09 million ETH, valued at $43.01 billion. Lido remains the largest player, holding 9.35 million ETH, which accounts for 71.41% of the total market share.

Liquid Staking Platforms Witness 60,000 ETH Outflow in 2 Weeks; Lido Leads the Way

Two weeks ago, Lido held 9.39 million ETH, but it decreased by 40,000 ETH since then. Rocket Pool, another platform, saw a slight increase from 1.13 million to 1.14 million ETH. Binance Pool also experienced a small rise, going from 896,355 to 896,406 ETH by Sunday. However, Mantle saw a decrease, losing about 13,001 ETH since April 15, leaving them with 489,892 ETH.

Similarly, Swell’s holdings decreased from 216,120 ETH to 213,165 ETH. Frax’s platform also witnessed a drop during this period. Despite Rocket Pool and Binance Pool adding 10,000 ETH and increasing their holdings, respectively, the sector still faced a significant outflow of 60,000 ETH in two weeks, valued at over $198 million. Since April 1, the liquid staking ecosystem has experienced a total withdrawal of 440,000 ETH, amounting to $1.45 billion.

In conclusion, the recent decline in Ethereum holdings across liquid staking platforms, led by Lido, underscores the volatility and shifting dynamics within the cryptocurrency landscape.