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Liquid Staking Overtakes Decentralized Exchanges as Biggest DeFi Sector, Says Binance Report

Liquid staking, a subsector of decentralized finance (DeFi), has surpassed decentralized exchanges (DEXs) as the top-ranking DeFi category by total value locked (TVL), according to Binance's Half-Year Report 2023. Liquid staking allows users to earn yield by staking their tokens without losing liquidity.

Liquid staking tokens (LSTs) provide users with liquidity while they earn yield with their ETH, and currently command 37.1% of the ETH staking market. However, users must be mindful of risks associated with liquid staking, including exposure to smart contract vulnerabilities, slashing risks, and price risks.

Ethereum Ethereum $3,348.93
+1.95%
Decentralized Finance DeFi
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