Rapid growth in DeFi-focused Ethereum liquid staking derivatives platforms raises eyebrows By Cointelegraph

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. Nevertheless, a DeFi narrative is constructing round liquid staking spinoff (LSD) tokens that might revive Ethereum’s community exercise.

The share of gasoline 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 latest report from Glassnode.