In the broader market, Bitcoin liquid staking (LST) is still a small sector; roughly $2.17B in total value.

Within that, $LBTC already commands $1.514B.

The significance isn’t the headline number. It’s the market structure signal:

-> In staking markets, early dominance compounds. Lido captured 70% of $ETH staked and never gave ground.

-> Integration depth matters more than raw issuance. $LBTC is already embedded across Aave, Spark, Pendle, and other blue-chip venues.

-> Liquidity begets liquidity. Once a token is the default collateral, it accrues network effects that later entrants struggle to dislodge.

BTCFi will not stay a $2.17B corner of the market for long.
As ETF inflows and onchain rails converge, the first protocols to secure meaningful share will define the collateral base layer for Bitcoin.

At 40% penetration of this early market, @Lombard_Finance is positioning $LBTC not as another wrapper, but as the reference standard for productive Bitcoin.