Coinspeaker
Ethereum Staking Landscape Shifts as Lido’s Market Share Falls Below 30%

According to recent data from blockchain analytics company Dune, the decline is attributed to a surge in Ethereum stakers entering the market, which has helped mitigate concerns regarding Lido’s dominance.

Lido’s Staking Market Share Falls

Lido has been a lone player in the Ethereum staking market for some time due to lack of competition in the liquid staking solution space. The platform also offers users the opportunity to earn passive income from their staked assets on other blockchains outside the Ethereum ecosystem including Solana (SOL), adding to its growing dominance.

The protocol’s growing popularity raised concerns from the Ethereum community as it controls more than 33% of the market. The community fears it could potentially manipulate aspects of the Ethereum chain.

However, with the entrance of other major players in the market, Lido’s market share for staked Ether fell below the 30% threshold as of April 4, 2024.

The data from Dune shows that the protocol now has ...