TechFlow reports that Ethereum staking protocol Lido has released its July report, showing that the total value locked (TVL) has surpassed $15 million for the first time since May 2022.
The team also noted that despite the activation of withdrawals for staked ETH earlier this year, the protocol continues to see "significant net inflows of ETH deposits each month." It added, "Due to this sustained growth, the amount of ETH staked on the protocol appears poised to exceed 8 million next month."
In addition, Lido claims that over 10,000 new stakers have joined the platform, representing a more than 50% increase compared to last month. According to The Block's data dashboard, cumulative deposited ETH and Ethereum validators have been on an upward trend throughout 2023, with 25.13 million tokens deposited so far and more than 786,000 validators active on the network.
