How Liquid Staking is Reshaping Ethereum's Landscape?

Data from Glassnode reveals a remarkable 142% surge in demand for Lido Staked Ethereum (stETH) since May 2022

Since Ethereum's introduction of proof-of-stake (PoS), liquid staking projects have emerged, allowing users to stake ETH and receive liquid staking derivatives in return

Lido, the leading platform in this space, provides users with stETH, representing their staked coins

Glassnode's data reveals that 23% of the Ethereum supply is now locked in staking contracts. Of this, 32% is staked via Lido, equivalent to 7% of the total circulating supply

Ethereum's new address growth has dipped by 5% since May 2022, indicating a somewhat slower demand. In contrast, Lido's sETH has been on a rapid rise, suggesting accelerated adoption of this derivative token