While the amount of Ethereum that is held by liquid design platforms has remained static within a narrow band of 13.6 to 14 million since Q4 2024, Binance’s derivative has undergone a dramatic expansion for Stant-Ether, which has been 27.27% balloon since mid-November.
Ethereum Liquid strike Conquest
Rocket pool, the Ether liquid -using protocol, lingered for a long time in the shadow of Lido, the dominant derivative network for liquid. Nowadays, the narrative Pivots: the derivative range of Binance, packed Binance Beacon Ether (Weth), has overshadowed rivals to secure his rank as well as the second largest protocol with Lido only.
A pie chart of the total value locked ETH (13.68 million) percentages via Defillama.com statistics.
This shift emphasizes a calm but powerful repeat in the sector, which defies earlier expectations of market confirmation. Archived Etherscan records of 19 November 2024 describe the mining of 1.43 million Weth -Tokens at Inception, divided into 3,304 addresses that manage the liquid guide of Binance.
Three months and sixteen days later, the stock-based stock on Ethereum rose 27.27% to 1.82 million tokens, while 189,689.74 Weth circulates on the BNB chain with a combined total of 2,013,541.54. Ownership now includes 4,461 Ethereum addresses and 6.681 BNB chain portfolios, which is a reflection of the expansion of the acceptance.
Rocket-Pool, once the undisputed second place protocol with more than a million ETH, is now circulating 443,596.87 Reth. Despite a reduced supply, the holder base is shown to 19,391 portfolios. Nevertheless, his position becomes precarious as the competition increases.
Mantle Network’s Meth – Op Duizers with 426,121.19 tokens – A hair width of rival Reth – while attracting 9,864 holders. Lido’s Steth maintains IronClad dominance and forms 68% of the 13.68 million derivatives for the use of liquids. The Blockchain from Ethereum currently houses 9.39 million Steth, per onchain statistics.
