Ethereum LSDFi Sector Expanded Almost 60x Since January After Shapella Surge: CoinGecko Report

The liquid staking derivatives finance (LSDFi) ecosystem has experienced significant growth this year as Ether (ETH) holders opt to stake their assets rather than liquidate them.

In April 2023, the Ethereum Shapella upgrade enabled ETH withdrawals, yet a report from a crypto data aggregator on October 16 revealed that the LSDFi sector has expanded by 58.7 times since January.

This rapid growth highlights the increasing popularity of liquid staking derivatives among investors.