Swell's liquid staking protocol witnesses staggering $125 million inflow surge in December. Swell overtakes major milestones with total value locked soaring to 108,000 ether ($245 million). Swell secures the fourth spot as the largest liquid staking protocol, trailing only Lido, Rocket Pool, and Frax.

Swell Network, a non-custodial Ethereum liquid staking protocol, saw a sharp acceleration in growth in December, recording over $125 million in new ETH deposits during the month. This pushed its liquid staking product’s total value locked to about 108,000 ETH (roughly $245 million at the time), according to project disclosures reported by The Block. The inflows were driven by users staking ETH and receiving Swell’s liquid staking token swETH, which tracks staked ETH plus rewards and can be used across DeFi for trading, lending, and liquidity provision. With this surge, Swell climbed to the fourth-largest liquid staking protocol on Ethereum, ranking behind only Lido, Rocket Pool, and Frax in terms of TVL in its liquid staking product. Swell positions itself as a permissionless, non-custodial alternative that lets users stake any amount of ETH without running their own validator, while node operators use the pooled ETH to validate the network in exchange for staking rewards. The rapid December growth highlighted both the continued demand for liquid staking in the post-merge Ethereum environment and Swell’s emergence as a significant competitor in a segment historically dominated by a small number of large providers.

✨ AI-generated background, compiled from web sources — not editorial content.

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