December 9, 2022, 8:23PM EST
• 9 min read

Layer by Layer: Ethereum Remains Dominant Amidst Major Impacts to DeFi Ecosystem

Quick Take

  • Ethereum continues to be the largest DeFi ecosystem by far, and has consequently endured significant impacts from the collapse of FTX and Alameda
  • The decrease in liquidity across a large majority of DeFi protocols has been palpable, with some of the withdrawals appearing to have been performed by Alameda directly
  • Meanwhile, both staked ETH and liquid-staked ETH continue to rise as new estimates emerge for the upcoming Ethereum Shanghai upgrade in 2023, which would unlock the ability for validators to withdraw their staked ETH

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