DeFi and NFT markets boom in January 2023.
Ethereum’s upcoming Shanghai upgrade is also driving staking in DeFi due to the expected opening of withdrawals from Ethereum staking contracts. Lido Finance flipped Maker DAO as the largest DeFi protocol in January, driven by popularity of liquid staking derivative protocols.
“What sets Lido apart from other DeFi protocols is its innovative staking solution, which allows users to access liquid Ether staking without committing to the traditional 32 ETH minimum.” “The crypto market has been bullish, leading to an increase in investor confidence and an inflow of capital into the DeFi space.”
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