The total value locked (TVL) in the Ethereum-based liquid staking protocol Lido has soared to $30.56 billion, as reported by The Block's Data Dashboard. This significant milestone underscores Lido's growing popularity and adoption in the decentralized finance (DeFi) space, especially since around July 2022. Prior to this surge, Lido's highest TVL was recorded at $20.83 billion on April 5, 2022, just before the Terra USD stablecoin ecosystem's downfall.

TVL is an important metric in the DeFi sector, indicating the total amount of capital that is deposited and engaged within a protocol. Lido's current TVL positions it as a dominant force in the liquid staking market, significantly ahead of its closest competitor, Rocket Pool, which has a TVL of $3.8 billion.

Moreover, Lido's substantial TVL grants it a major role in the Ethereum network, representing 32% of all staked ether, making it the largest validator on the Ethereum proof-of-stake blockchain. Despite being a singular protocol, Lido collaborates with 36 different entities to operate nodes and facilitate the block production process, showcasing its significant influence and operational capacity within the blockchain ecosystem.