BitGo, a renowned digital asset infrastructure provider , has become one of the biggest players in the staking industry. Reportedly, the company has recorded nearly $50 billion in locked value in its staking operations. This makes up for almost half of the $100 billion in assets it manages. Despite recent market downturns, BitGo believes it is ahead of its competitors. BitGo Leads the Way in Crypto Staking Notably, the company’s growth in staking is impressive, especially since it started less than three years ago. Despite the recent market downturn, BitGo announced that it has $48 billion locked in its platform. The company missed the big Ethereum staking trend in 2022 but still added many new blockchain networks. It now offers staking services for at least 21 networks, including Solana, Zetachain, and Berachain. It also helps manage treasury assets for several blockchain foundations. The company has also formed strong partnerships with different crypto projects, which helps attract more investors. After FTX collapsed, BitGo was chosen to manage assets. This includes the $1 billion in Solana (SOL) staked from former FTX customers. Who Is Leading the Staking Sector? While BitGo claims to be the biggest staking provider, exact market data is not always available. Lido, a permissionless staking protocol, leads Ethereum staking with about 30% of the market, while Coinbase, a major player, has an estimated 15% market share. Also, the exchange was estimated to have $20-$30 billion in total value locked (TVL), while BitGo believes its number is higher at $48 billion. However, the exact number is unclear since the exchange doesn’t share full reports. The company mainly works with institutions but has expanded into retail staking. Last year, BitGo launched a platform that provides crypto trading and staking services for retail investors . This move has helped the firm attract more users, increasing its revenue. The Future of BitGo’s Staking Business While BitGo is still an infant in the crypto staking business, it is trying to strengthen its foothold in the sector. The firm works with blockchain validators and protocol teams to create new staking products. Unlike the crypto custody business, which grows slowly, staking is expanding quickly in the crypto world. BitGo aims to improve its staking services because it believes crypto’s future relies on new projects and growth. Notably, the company also plans to go public with an IPO as early as Q2 2025. This comes after the company was valued at $1.75 billion in 2023 after raising $100 million the same year. With its fast growth in staking and a possible IPO ahead, BitGo is set to become a major leader in the crypto industry. The post BitGo Records Nearly $50 Billion Locked Value in Staking appeared first on TheCoinrise.com .
