Ethereum Restaking Draws $4.4 Billion to EigenLayer Amid Surging Interest
@sanor016
Over the past 10 days, EigenLayer witnessed a major increase in inflows, receiving over $4.4 billion with its Ethereum restaking feature as a key contributor.
According to data from DefiLlama, there is now $1.93 billion worth of wrapped ether tokens locked on the protocol, as well as $2.73 billion worth of staked ether. EigenLayer’s total value locked (TVL) currently stands at $6.85 billion at the time of writing.
Elevating EigenLayer to a top-tier DeFi platform, this development reveals the potent allure of Ethereum restaking for investors seeking enhanced yields.
EigenLayer’s Rapid Expansion in Ethereum Restaking
The influx of inflows has seen the liquid restaking platform rise to the fifth largest protocol in DeFi.
The increase in inflows occurred following EigenLayer’s removal of its 200k ETH individual caps on liquid staking tokens on February 5, a move intended to “encourage organic demand,” as detailed in a blog post on January 24. While the opportunity for liquid restaking closed on February 10, the subsequent $600 million surge in TVL can be linked to the rising prices of assets.
The boost in EigenLayer’s TVL is reflective of a broader trend within the DeFi sector, where the total capital locked in DeFi protocols has reached $71.2 billion.
This marks the highest point since June 2022 and is nearly double the total recorded during October’s low of $36.8 billion.
Restaking has played a big role in the upward trajectory of DeFi protocols.
Capital on the liquid restaking platform ether.fi has witnessed a 406% increase, reaching $1.19 billion in the past 30 days, while Puffer Finance has seen a 79% surge in the last week alone.
The TVL across various liquid restaking protocols, including EigenLayer, now stands at $10 billion, a major rise from December’s figure of $350 million.
