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Lido Releases 2025 Annual Report: Total Revenue Down 18.2% Year-over-Year, ETH Staking Market Share 24.12%

Lido's 2025 annual report shows that amid APR compression, capital outflows, and intensifying competition, its total revenue declined 18.2% year-over-year. Its ETH staking market share stands at 24.12%. The report also mentioned leadership adjustments and plans to focus in 2026 on scaling the stETH product line, building the validator market, and aligning LDO incentives.
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ETH2.12%
STETH2.14%
LDO3.21%