Liquid Staking Derivatives LSD segment is on fire as Shanghai upgrade is on its way to Ethereum $ETH
The crypto market is on a roll right now, and for Ethereum users it’s proving a particularly enjoyable trip. Liquid Staking Derivatives are seeing massive in-flows from users who can’t get enough of that sweet, sweet yield. With the Shanghai upgrade, which would make staked ETH unlockable, looming, everyone’s on LSD.2022 killed off many things in crypto, among them DeFi yields.
Last year, CeFi and DeFi yields were hammered from double-digit percentage points all the way down to zero. Without UST paying out 20% and DeFi protocols printing native tokens as if FDV was just a meme, there wasn’t much sustainable yield to be had. Given the paucity of farming opportunities, many Ethereans elected to lock their remaining ETH into the new PoS chain and hope that someday soon it would become unlockable. Their wish is about to be granted.
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