ETH Up After Nansen Releases Latest Crypto Industry Analysis

Ethereum (ETH) is currently trading at $1,249.94 after a 2.72% price increase over the last 24 hours. The leading altcoin is also still in the green by more than 4% over the last seven days. ETH’s 24-hour trading volume also saw a double-digit increase over the last day and now stands at $5,238,450,559.

One of the reasons for ETH’s stellar performance over the last day could have something to do with the latest analysis shared by Nansen on their official Twitter page.

The blockchain analysis firm known as Nansen took to Twitter on January 3 to share a breakdown of their latest crypto industry analysis. Perhaps the biggest highlight in the report is that 15.87 million ETH has been staked, which is estimated to be 13.2% of the total circulating supply. At current prices, this is worth about $19.3 billion.

ETH LSD providers (Source: Nansen)

The chart above which was shared in Nansen’s analysis shows that Lido Finance is still the dominant LDS (Liquid Staked Derivatives) provider, and they make up about 80% of the market at press time.

Also mentioned in the firm’s analysis is that Frax Finance (frxETH), which was launched in mid-October of last year, has seen significant growth. The number of unique addresses for both frxETH and sfrxETH has been on the rise.

Lastly, perhaps the most exciting event to take place this month is the launch of the Diversified Staked ETH Index (dsETH), which Index Coop has hinted will happen before the end of this month.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Source