The liquid staking derivatives finance (LSDFi) sector has grown by 58.7x since January according to a recent CoinGecko report, despite Ethereum withdrawals opening in April.
Shapella upgradeThe LSDFi sector growth stats show ETH holders would rather re-stake for better yield opportunities than liquidate their assets after withdrawing.
CoinGecko noted that since withdrawals were enabled, the exit queue remained at zero for more than half of the time and stayed below 10 validators for 77% of the time. LSDs were introduced to enable smaller ETH holders to participate in staking and unlock liquidity after the Ethereum Beacon Chain launch in December 2020.Since the beginning of this year, the total value locked across the ten leading LSDFi protocols, not including Lido, surged to over $900 million, according to the report.The average yield for LSD protocols since January 2022 has been 4.4% though this will decline as the amount of staked ETH increases.
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