Is Liquid Staking outperforming Bitcoin, and is leadership broad?
Bottom line
Lido DAO ranks first for research priority in Liquid Staking crypto at 67.4/100, and its native activity evidence clears the coverage gate. The theme's 13-week excess versus Bitcoin is +31.3% on 25% breadth, which is what decides whether that lead is isolated or broad. 3 of the 12 assets here carry enough native evidence to move past a tape-led label.
These Liquid Staking coins are part of the cryptocurrency universe this site tracks daily — 894 of the top 1,000 crypto currency assets by market cap, priced from exchange closes and matched to protocol fees and revenue where a protocol publishes them.
The theme itself · before any single company
How has Liquid Staking moved against Bitcoin?
The line below covers 5 years. Over the most recent two of them this theme is 47% behind Bitcoin. Protocol revenue across its protocols grew 81% on average over the last four reported quarters. It has been ahead of Bitcoin on a rolling three-month view for 10 weeks running.
BREAKING OUT · ahead 10w·Fundamentals up, price down7 of 9 coins ahead of Bitcoin by 5% or more over three months1 is 20% or more behind over a year while protocol revenue grew 20% or more
RS ↑10w · 2/9 >200d (−1) · 7/9 lead (+2) · EPS —
Liquid Staking, equal-weighted, based at 200Bitcoin, same base, same starttrailing 12-month protocol revenue risingfalling
Strength anatomyMixedHow much of the theme is participating, how recently, and whether the movers score well.
Together7 of 9 coins moving
Fresh3 crossed in the last 4 weeks
Down the cap ladder — bar is now, tick is four weeks ago
Large2/2+1
Mid3/3+1
Small2/40
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the theme line is an equal-weighted index of its 9 coins. The bars underneath are trailing 12-month protocol revenue, one bar per reported quarter, each member rebased to 100 at the start and the theme taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while protocol revenue grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
RISK OFF market context
Liquid Staking vs Bitcoin — Relative Strength & Breadth
Liquid Staking crypto has underperformed Bitcoin by 14.2% over 52 weeks on an equal-weight index of current members. Over 13 weeks the figure is +31.3%. 2 of 8 covered assets are above their own 200-day average. Jito leads Bitcoin-relative strength at +92.5%. Price readings are as of 2026-07-24.
+31%13w vs BTC
-14%52w vs BTC
2/8Above 200-DMA
JTORS leader · +93%
Assets
12
canonical functional membership
Activity-covered
3/12
enough native evidence
Top score
67.4/100
Lido DAO
Calendar quarters
20
complete; missing stays missing
Global asset selection · top 20 shown
00 · exact additive research priority
4-Factor Crypto Evidence Score
A within-theme research-priority score for the 12 assets in Liquid Staking, out of 100. The four displayed point contributions add exactly to the total, and the market regime changes the action label, never the arithmetic. Lido DAO is highest at 67.4/100 on 87% evidence. It ranks research attention, not portfolio action.
Lido DAO leads the current research queue at 67.4/100 with 87% evidence.
3/12 assets have enough native activity evidence to move beyond a tape-led label.
Missing native metrics are not scored as zero and are not silently reweighted. They pull only the affected factor toward neutral and lower its visible evidence percentage.
38.4/100 · Illiquid · research only · 50% evidence
Exact sum: 10.9 + 15.0 + 10.0 + 2.5 = 38.4
Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
10.9/35Market leadership
RS-BTC 3 pp · RS-sector -32.8 pp · 200-DMA below
100% evidence
15.0/30Network & economic traction
Fees — · revenue — · users —
0% evidence
10.0/20Value capture
Fee yield — · revenue yield —
0% evidence
2.5/15Liquidity & downside risk
30d median volume $346,169 · vol 88.9%
100% evidence
01 · complete calendar-quarter evidence
Which projects are generating the most network fees?
Lido DAO leads Liquid Staking crypto on Trailing 12-month fees at $752.8M, 1550% ahead of Rocket Pool. 1 of 3 assets with comparable change data is growing, fastest at SSV Network. Coverage is 3 of the 12 assets in this theme, through the Q2 2026 calendar quarter.
LeaderLido DAO · $752.8M
Gap1550% versus #2
Persistence1 assets have positive comparable growth
Coverage3/12 assets
Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.
This conclusion weakens if: fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold.
Trailing 12-month fees is the sum of the latest four complete calendar quarters. Growth compares that sum with the prior four-quarter sum.
Trailing 12-month feestop five
1Lido DAO LDO$752.8M
2Rocket Pool RPL$45.6M
3SSV Network SSV$2.5M
Fee growthtop five
1SSV Network SSV+53%
2Lido DAO LDO-12%
3Rocket Pool RPL-43%
Network fees · asset comparison
3/12 level · 3/12 change
Latest comparable data · top 20 shown first
Asset
Trailing 12-month fees
Fee growth
lido-dao
$125.2M
-12%
ssv-network
$319.8K
+53%
rocket-pool
$4.6M
-43%
jito-governance-token
—
—
ether-fi
—
—
hastra-prime
—
—
babylon
—
—
bifrost
—
—
lorenzo-protocol
—
—
bedrock-token
—
—
origin-protocol
—
—
kinetiq
—
—
02 · complete calendar-quarter evidence
Which projects convert activity into protocol revenue?
Lido DAO leads Liquid Staking crypto on Trailing 12-month revenue at $73.7M, 2901% ahead of SSV Network. 1 of 2 assets with comparable change data is growing, fastest at SSV Network. Coverage is 3 of the 12 assets in this theme, through the Q2 2026 calendar quarter.
LeaderLido DAO · $73.7M
Gap2901% versus #2
Persistence1 assets have positive comparable growth
Coverage3/12 assets
Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.
This conclusion weakens if: revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters.
Trailing 12-month revenue is the sum of the latest four complete calendar quarters. Growth compares that sum with the prior four-quarter sum.
Trailing 12-month revenuetop five
1Lido DAO LDO$73.7M
2SSV Network SSV$2.5M
3Rocket Pool RPL$0
Revenue growthtop five
1SSV Network SSV+107%
2Lido DAO LDO-14%
Protocol revenue · asset comparison
3/12 level · 2/12 change
Latest comparable data · top 20 shown first
Asset
Trailing 12-month revenue
Revenue growth
lido-dao
$10.9M
-14%
ssv-network
$313.4K
+107%
rocket-pool
$0
—
jito-governance-token
—
—
ether-fi
—
—
hastra-prime
—
—
babylon
—
—
bifrost
—
—
lorenzo-protocol
—
—
bedrock-token
—
—
origin-protocol
—
—
kinetiq
—
—
03 · complete calendar-quarter evidence
Where is capital actually committed on-chain?
Lido DAO leads Liquid Staking crypto on Quarter-end TVL at $14.5B, 83% ahead of SSV Network. 0 of 4 assets with comparable change data are growing. Coverage is 5 of the 12 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero.
LeaderLido DAO · $14.5B
Gap83% versus #2
Persistence0 assets have positive comparable growth
Coverage5/12 assets
Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.
This conclusion weakens if: TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.
Quarter-end TVL uses protocol TVL first for protocol assets and exact-ID chain TVL for chain assets or where protocol TVL is unavailable. A blank is unavailable, not zero. Growth compares with the same complete quarter one year earlier.
Quarter-end TVLtop five
1Lido DAO LDO$14.5B
2SSV Network SSV$7.9B
3Babylon BABY$3.1B
4Rocket Pool RPL$859.8M
5Bifrost BFC$11.8M
TVL growthtop five
1Lido DAO LDO-36%
2Babylon BABY-37%
3Rocket Pool RPL-48%
4Bifrost BFC-57%
Total value locked · asset comparison
5/12 level · 4/12 change
Latest comparable data · top 20 shown first
Asset
Quarter-end TVL
TVL growth
lido-dao
$14.5B
-36%
ssv-network
$7.9B
—
rocket-pool
$859.8M
-48%
jito-governance-token
—
—
ether-fi
—
—
hastra-prime
—
—
babylon
$3.1B
-37%
bifrost
$11.8M
-57%
lorenzo-protocol
—
—
bedrock-token
—
—
origin-protocol
—
—
kinetiq
—
—
04 · let price answer last
Which assets lead on price and relative strength?
Jito leads the Liquid Staking tape on Bitcoin-relative strength at +93% over 90 days. 2 of 8 covered assets are above their own 200-day average. Price shows what happened; BTC-relative strength shows whether the asset beat crypto’s opportunity-cost benchmark. Both lines run through 2026-07-24.
Complete set · no silent drops
Which assets are in Liquid Staking?
12 priced assets are assigned to Liquid Staking, listed below by rank with every one visible — including tape-only names that publish no protocol activity. Each asset has exactly one canonical functional theme, chosen by a specific-to-general first match on its categories. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they have no independent price discovery.
Rank
Asset
Price
90d
RS-BTC
200-DMA
30d vol
Median volume
Price quality
Activity source
Score
Evidence
1
Lido DAO LDO
$0.3745
0.0%
+17%
Above
74%
$38.7M
usable
protocol
67.4
87%
2
SSV Network SSV
$2.05
-29%
-12%
Below
37%
$6.2M
usable
protocol
44.3
82%
3
Rocket Pool RPL
$1.71
-9.1%
+8.3%
Below
183%
$9.4M
usable
protocol
43.0
81%
4
Jito JTO
$0.6056
+75%
+93%
Above
115%
$45.2M
usable
tape only
64.9
50%
5
Ether.fi ETHFI
$0.4196
-4.5%
+13%
Below
105%
$41.3M
usable
tape only
56.6
50%
6
Hastra PRIME PRIME
—
—
—
—
—
—
usable
tape only
50.0
0%
7
Babylon BABY
$0.0127
—
—
—
—
$496.1K
usable
protocol + chain TVL
47.9
17%
8
Bifrost BFC
—
—
—
—
—
—
usable
chain TVL
47.5
5%
9
Lorenzo Protocol BANK
$0.1567
—
—
—
—
$477.4K
usable
tape only
47.2
12%
10
Bedrock BR
$0.0040
-13%
+4.5%
Below
27%
$0
usable
tape only
46.5
50%
11
Origin Token OGN
$0.0164
-30%
-13%
Below
103%
$3.8M
usable
tape only
38.8
50%
12
Kinetiq KNTQ
$0.1089
-14%
+3.0%
Below
89%
$346.2K
usable
tape only
38.4
50%
Methodology · boundaries make the answer useful
What can make this comparison misleading?
This Liquid Staking comparison names 5 ways its own evidence can mislead, all listed below. The largest is that crypto network activity is not company earnings: protocol revenue does not automatically accrue to token holders. Coverage is also uneven — 3 of 12 assets carry enough native evidence to rank on more than price.
Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
Market-cap values are a dated universe snapshot, not point-in-time historical supply data.
Current category labels are applied to historical prices; this creates survivorship and taxonomy hindsight.
Funding rates, open interest, liquidations, exchange flows, unlock schedules, historical circulating supply and developer activity are not held and are not inferred.
Equal weighting is used for sector history because true historical market-cap weights are unavailable.
Price and technicalsThrough 2026-07-24. Five-year weekly observations benchmarked to Bitcoin.
Protocol activityThrough 2026-07-24. Fees, revenue, protocol TVL and DEX volume.
Chain activityUsers and transactions through unavailable; separately sourced chain TVL through 2026-07-24.
Market capSnapshot dated 2026-07-04; no historical supply series is implied.
Questions the page should answer directly
Crypto analysis FAQs
These 18 answers cover the questions this page can settle from data it holds — what the category is, how the score is built, what the coverage gaps are, and what would change the read. Every answer below is also present in the page’s FAQ schema and in its plain-text rendition. None of them is a recommendation.
What is Liquid Staking crypto?
Liquid Staking crypto refers to cryptocurrency projects grouped by what they actually do rather than by market fashion. This page tracks 12 such coins by market cap, price and Bitcoin-relative strength, with protocol fees and revenue where a project publishes them. Readings are as of 2026-07-24.
What is the total market cap of Liquid Staking crypto coins?
The Liquid Staking coins on this page are tracked against a universe of 894 of the top 1,000 crypto currency assets by market cap. Market-cap metadata is dated 2026-07-04, separately from the price series, and each coin's own figure is in the table on this page.
Are Liquid Staking crypto coins outperforming Bitcoin?
Liquid Staking has returned -14.2% versus Bitcoin over 52 weeks and +31.3% over 13 weeks on an equal-weight current-member index. 2/8 covered assets are above their 200-day averages as of 2026-07-24.
Which Liquid Staking asset has the strongest research score?
Lido DAO ranks first at 67.4/100: 29.6 + 12.2 + 15.7 + 9.9 = 67.4. It is labelled “Constructive watch · market gate closed” with 87% overall evidence and 74% native-economics evidence.
How is the Liquid Staking 4-factor score calculated?
The exact sum is Market leadership /35 + Network and economic traction /30 + Value capture /20 + Liquidity and downside risk /15. Missing data pulls only the affected factor toward neutral and lowers evidence; it is never silently reweighted.
Why can a Liquid Staking asset be labelled tape-led?
Tape-led means price and relative-strength evidence exists but less than half of the native traction and value-capture evidence is available. Such assets remain visible but rank below fully evidenced assets.
Does protocol revenue accrue to the token?
Not necessarily. Protocol fees and revenue measure network economics; token-holder value depends on the protocol’s burn, buyback, staking, distribution and governance rules. This page never assumes accrual merely because revenue exists.
Does crypto have a P/E or PEG ratio?
No comparable company-style P/E or PEG is used. Where coverage permits, the page shows network fee yield and protocol-revenue yield against a dated market-cap snapshot, with an explicit token-accrual caveat.
How much history is shown for Liquid Staking?
The page shows five years of weekly price and relative-strength history and 20 complete calendar quarters of on-chain activity where available. Missing periods remain gaps.
Why do the crypto data dates differ?
Prices and technical metrics run through 2026-07-24; protocol activity through 2026-07-24; chain users and transactions through the latest available chain date; chain TVL through 2026-07-24; market capitalisation is a separate snapshot dated 2026-07-04.
Are stablecoins and wrapped tokens included in Liquid Staking?
No. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they do not have independent price discovery.
Can one token appear in multiple raw crypto categories?
Yes, but public MLA pages assign each asset to exactly one functional theme using a specific-to-general first-match taxonomy. Liquid Staking therefore has one canonical membership list.
What would invalidate the current Liquid Staking theme read?
The read weakens if the sector’s 13-week relative return versus Bitcoin falls below zero, fewer than one-third of covered assets remain above the 200-day average, and the leading asset’s native activity also contracts.
Does this page include funding rates, open interest or token unlocks?
No. Those datasets are not held in the current research store, so the page names them as unavailable rather than inferring them from price.
Which projects are generating the most network fees?
Lido DAO leads Liquid Staking crypto on Trailing 12-month fees at $752.8M, 1550% ahead of Rocket Pool. 1 of 3 assets with comparable change data is growing, fastest at SSV Network. Coverage is 3 of the 12 assets in this theme, through the Q2 2026 calendar quarter. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold.
Which projects convert activity into protocol revenue?
Lido DAO leads Liquid Staking crypto on Trailing 12-month revenue at $73.7M, 2901% ahead of SSV Network. 1 of 2 assets with comparable change data is growing, fastest at SSV Network. Coverage is 3 of the 12 assets in this theme, through the Q2 2026 calendar quarter. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters.
Where is capital actually committed on-chain?
Lido DAO leads Liquid Staking crypto on Quarter-end TVL at $14.5B, 83% ahead of SSV Network. 0 of 4 assets with comparable change data are growing. Coverage is 5 of the 12 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.
Which Liquid Staking project has the largest fee base?
Lido DAO leads covered trailing-12-month fees at $752.8M. Coverage is 3/12; this is network activity, not automatically token-holder income.