The SEC lawsuit against Coinbase led to a surge in ETH staked on decentralized protocols like Lido, boosting activity and revenue for the protocol.
Lido experienced a surge in activity and revenue as well.
Coinbase, one of the largest centralized exchanges for staking ETH, faced a setback with the SEC lawsuit, causing users to seek alternative platforms. This shift led to a significant boost for decentralized solutions likeCheck out the Lido Profit CalculatorThe SEC lawsuit against Coinbase and other exchanges instilled fear among users who relied on these platforms for staking ETH. As a result, many users migrated to other platforms.
Lido emerged as a major beneficiary of this situation, with an impressive 13% increase in ETH staked on its protocol. This growth was mirrored by other decentralized liquid staking protocols, such as Rocket Pool and Frax Finance, indicating a broader trend in the market.While the majority of ETH staked on centralized exchanges continues its exodus from
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