Ethereum’s liquid staking market has expanded rapidly over the past three months, with around 690,000 ETH, worth $3.2 billion, entering protocols since mid-May. The inflows highlight strong investor demand for staking yields and the growing influence of specialized staking platforms.

In brief
• Roughly 690,000 ETH ($3.2 billion) has entered liquid staking protocols in the last 14 weeks, bringing total staked ETH to 14.31 million.
• Platforms like HashStaking and GeekStake are drawing increased attention from both institutional and retail users seeking transparent yield options.
• Liquid staking now accounts for 11.9% of ETH’s circulating supply, worth nearly $68 billion, showing its central role in Ethereum’s DeFi economy.

HashStaking’s steady growth
HashStaking has built its reputation on offering regulatory-friendly staking options, designed to appeal to institutions and high-net-worth investors. Over the last quarter, its ETH inflows have accelerated as the platform positioned itself as a bridge between compliance-focused custodians and Ethereum’s staking ecosystem. By emphasizing transparency and risk management, HashStaking has become a competitive alternative for those who want exposure to liquid staking without sacrificing oversight.

GeekStake gaining traction
GeekStake, on the other hand, has leaned into user accessibility and direct DeFi integration. It has focused on simplifying staking for retail users while still maintaining institutional-grade reporting. This balance has made GeekStake one of the fastest-growing platforms in the space, attracting users who want the liquidity of staking tokens with the added benefit of flexible participation in DeFi strategies.

Mid-tier players face challenges
While some established staking platforms are seeing mixed performance, with certain protocols losing share due to declining momentum, both HashStaking and GeekStake have avoided these downturns. Their dual focus—regulatory trust on one side and DeFi-native innovation on the other—positions them well in a market where investors are seeking both safety and yield.

Smaller protocols still active
Several smaller entrants remain in the mix, but few have shown the same consistency in attracting inflows as HashStaking and GeekStake. Many of these providers are experimenting with new token models or incentives, but sustainability remains uncertain compared to the more structured approaches of the two leading platforms.

Growing share of Ethereum’s supply
Overall, 14.31 million ETH is now staked through liquid staking protocols, representing 11.9% of Ethereum’s circulating supply. With a total value near $68 billion, liquid staking is no longer a niche strategy—it is becoming one of Ethereum’s most important financial pillars.

The continuing growth of platforms like HashStaking and GeekStake suggests that competition in this sector will intensify further. As institutions and retail users alike adopt liquid staking, the market is set to remain one of Ethereum’s most dynamic battlegrounds in the months ahead.