30% of Today's Staked Ethereum Is Tied to Lido's Liquid Staking, 8 ETH 2.0 Pools

[Rakin343]

In roughly three days Ethereum is expected to transition from a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) version via The Merge. Ahead of the transition, the liquid staking project Lido has seen a lot more activity as the value locked in the protocol increased by more than 13% this week. Moreover, the project’s lido dao governance token has increased 25.4% against the U.S. dollar during the past seven days.
Lido TVL Jumps 13% Higher This Week, Project’s Wrapped Ether Represents More Than 30% of Staked Ethereum
Last week, Bitcoin.com News reported on the decentralized finance (defi) project Lido as the project started seeing more demand ahead of The Merge. Lido Finance is a liquid staking project that allows people to wrap their crypto assets in order to gather a staking yield, but the process also allows owners to hold the assets in a non-custodial fashion and be able to trade them as well.
Lido offers liquid staking solutions for blockchains like Ethereum, Solana, Polygon, Polkadot, and Kusama. However, most of the value locked in Lido derives from locked ether, as ETH represents $7.61 billion of Lido’s $7.81 billion total value locked (TVL). source