Ethereum restaking protocols’ TVL exceeds $8b

The total value locked in Ethereum restaking protocols has jumped to $8.35 billion.

The cumulative worth of ethereum.fi’s locked assets surpassed $3.2 billion. Renzo trails behind with approximately $2 billion, and according to The Block, Puffer follows in third place with around $1.3 billion in TVL.

Ethereum restaking protocols’ TVL exceeds $8b

On February 5, EigenLayer experienced a surge in activity as the protocol successfully raised $1.18 billion during a fundraising event. This was possible after removing the limit on the amount of Ethereum (ETH) that could be restaked, which totalled 200,000 ETH. As a result, the total value locked (TVL) in the protocol jumped by over $1.5 billion in a single day.

On February 20th, the total value locked (TVL) in decentralized finance (Defi) applications stood at $3.5 billion. In under two months, TVL surged by more than 100%, amounting to over $7 billion. The significant surge was majorly driven by ether.fi and Puffer, with TVLs of $1.36 billion and $1.02 billion respectively. Ethereum holds a substantial lead in Defi applications, accounting for approximately 56% or around $52 billion of the total value locked. (DefiLlama data)

Ethereum restaking protocols’ TVL exceeds $8b

After the Shapella upgrade in April 2023, there was a significant surge in the need for staking and network participation. Following this update, users gained the ability to retrieve their previously immobilized cryptocurrencies.

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2024-04-01 19:03