As Ethereum and Solana deposits climb on Lido, the Ethereum staking platform sees a rally in TVL.
Between 11 and 18 September, ETH and SOL deposits on Lido grew by 0.53% and 8%, respectively, resulting in a 1% growth in Lido’s TVL.During that period, the values of these Layer 1 coins grew by 0.18% and 3.01% respectively. This is noteworthy, as the fall in the prices of these assets often impacts Lido’s TVL growth.During the period under review, the liquid staking platform led as the protocol with the most net new deposits to the Ethereum Beacon Chain.
For context, Lido’s APR has trended downward since May. On 12 May, Lido’s stETH APR peaked at 7.17% and has since fallen by 49%.Further, within the period under review, the amount of wrapped staked Ether [wstETH] deposited for trades across decentralized finance pools increased by 0.08%. This came after the previous week’s decline of 5.72% due to stETH’s removal from the Lybra Finance pool.
Regarding Layer 2 platforms, data from Dune Analytics showed a 2% and 14.13% increase in the amount of stETH bridged to
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