Speedy development in DeFi-focused Ethereum liquid staking derivatives platforms raises eyebrows

Ether’s (ETH) DeFi exercise has declined within the bear market and the sector faces additional competitors from Ethereum’s annual staking reward of 4%, in line with Glassnode analysts. Nonetheless, a DeFi narrative is constructing round liquid staking spinoff (LSD) tokens that might revive Ethereum’s community exercise.

The proportion of fuel consumed by DeFi protocols has dropped from 34% in 2020 to eight% to 16% presently, with NFTs commanding the utmost share of 25% to 30%, in line with a current report from Glassnode.

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