Only 20% of All Staked Ethereum (stETH) is in Profit, Lido Finance Leads Staking

Gold toilet with a hand holding a fork with Ethereum logo.

On-chain data shows that despite the increasing interest in Ethereum (ETH) staking, only about 20% of all ETH staked is in profit following the crypto winter of 2022.

Only 20% of All Staked ETH in Profit 

Data from Dune Analytics shows that only approximately 20% of all staked ETH were done at prices lower than current levels and are still in the money. ETH currently trades at $1,250 from an all-time high of $4,891.

According to the data, most of the 20% profit was made at the $600 price level in December 2020 when the Beacon Chain was launched. 

When the Beacon Chain was launched, ETH traded around the $600 region, more than 50% less than its current price. Around 80% of the ETH has been staked at prices equal to or higher than $1,200.

The report adds that there is 15.89 million ETH currently staked, representing 13.2% of the entire supply. Ethereum developers target March 2023 to release the staked Ether via the Shanghai Upgrade.

Lido Leads the DeFi Sector

Lido currently leads the DeFi sector in total value locked (TVL). It overtook MakerDAO’s TVL as the number of stakers on the platform grew. Lido Finance currently has $6.15 billion in TVL.

According to data from Dune Analytics, Lido Finance represents 29.23% of the 15.89 million ETH currently staked on the proof-of-stake (PoS) chain. There was a rise in staked ETH in December.

On the Flipside

  • The amount of ETH staked per week has fallen sharply since mid-November, dropping to 25,000 ETH compared to the over 150,000 ETH being staked at its highs.

Why You Should Care

Ethereum staking has remained popular despite the crypto bear market. Stakers believe in the long-term investment of Ethereum.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia