Lido establishes itself as a dominant player in the area of liquid operations for Ethereum, according to Glassnode analysis

Lido establishes itself as a dominant player in the area of liquid operations for Ethereum, according to Glassnode analysis

lido: The leading provider of liquid operations for Ethereum (Eth)

As a dominant player in the area of liquid operations for Ethereum (Ethle), Lido (LDO) has made a name for itself, according to the renowned crypto analysis company Glassnode. Compared to other providers, Lido not only exceeds with the offer and liquidity, but also in the integration of network effects.

A main goal of Lido is to give users the opportunity to use ETH without having to block assets or to have to maintain an infrastructure. The use on the Lido platform gives users Lido Staked Ether (Steth) in a ratio of 1: 1, which corresponds to their ETH used. These Steth credit can be used similar to regular ETH to achieve rewards or income.

In particular, Glassnode emphasizes that Lido exceeds other providers in relation to daily deposits and the all -round offer. Lido's offer is even 16 times higher than that of its closest competitor.

However, Rocketpool has recorded remarkable growth with its liquid staking token Reth since the beginning of the year. Reth's offer has grown three times as quickly as that of Lido.

At the time of the creation of this article, the value of LDO is $ 1.91. With a market capitalization of 33th place, LDO has recorded a decline of almost 10% in the last 24 hours and has fallen by 2% in the past week.

lido undoubtedly has a strong position in the field of liquid operations for Ethereum. With its offer, its liquidity and the integration of network effects, Lido offers users a convenient and efficient way to use ETH and benefit from rewards and income. It remains to be seen how Lido will react to the growing competition and whether it can maintain its leading position in this sector.