Ethereum restaking protocols’ TVL exceeds $8b

0


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

The total value locked (TVL) of the ether.fi project exceeded $3.2 billion. Renzo is in second place with $2 billion, while data from The Block shows that Puffer is third with TVL at $1.3 billion.

Ethereum restaking protocols' TVL exceeds $8b - 1
Source: The Block

EigenLayer also saw an uptick in activity on Feb. 5, when the protocol raised $1.18 billion after the project lifted the cap on the maximum restaked assets of 200,000 Ethereum (ETH). In just one day, the protocol’s TVL increased by more than $1.5 billion.

On Feb. 20, the restaking TVL figure was $3.5 billion; in less than two months, TVL was over 100%. The segment saw sharp growth in February and was dominated by ether.fi and Puffer, which have TVLs of $1.36 billion and $1.02 billion, respectively. Ethereum has achieved dominance in total value locked in decentralized finance (defi) applications of 56% or $52 billion, according to DefiLlama.

Ethereum restaking protocols' TVL exceeds $8b - 2
Source: DefiLlama

The demand for staking and network activity increased noticeably after the Shapella upgrade in April 2023. After the update, users were able to withdraw blocked cryptocurrency.


Follow Us on Google News



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *