Liquid staking tokens Lido DAO, Rocket Pool, Stride and pStake Finance among others, have rallied in past 24 hours. The $3.96 billion market capitalization category has added 6%, while Bitcoin ranges below $67,000. Total value of assets locked in Liquid Staking exceeds $53 billion per DeFiLlama. Liquid staking tokens represent staked tokens that can be used as collateral in lending protocols.
Users lock their tokens on these platforms, contributing to their security and consensus mechanism and earn rewards. Tokens of the staking platforms can also be used as collateral in lending across the DeFi ecosystem. In the ongoing cycle, meme coins and Real World Asset tokenization are the leading narratives. However, news of the upcoming launch of ETH ETF. Bloomberg ETF analyst Eric Balchunas recently stated that July 2 is the likely date for ETF launch.
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