- EigenLayer's complete worth locked (TVL) exceeded $10 billion.
- This locations the restaking protocol above Maker by way of TVL and simply behind Aave.
- This surge occurred amid elevated restaking exercise and Ethereum worth rising above $3,500.
EigenLayer, an Ethereum staking protocol, has seen its Whole Worth Locked (TVL) soar to over $10 billion following the hovering Ethereum (ETH) worth.
EigenLayer permits customers to “recapture” tokens that they’ve already locked up to make sure the safety of the Ethereum community. Restaking permits stakers to earn rewards by serving to safe different ecosystem protocols.
EigenLayer TVL soars to $10 billion
In keeping with information from DeFiLlama, the protocol’s TVL has elevated sharply over the previous month.
On February 5, 2024, EigenLayer TVL was $2.15 billion; by February 24, 2024, it will be greater than $7.6 billion, as Ethereum worth exceeded $3,000 in the course of the month; and by March 4, 2024. It has soared to greater than $10.3 billion.
ETH worth has additionally seen a major spike over the previous month, rising by greater than 50% to a excessive of $3,500.
The platform has seen a major spike in ETH deposits because of elevated exercise concerning the Liquid Restaking protocol. In keeping with market information, February recorded the very best influx of deposited tokens, overwhelming December and August 2023.
EigenLayer Statistics – Month-to-month chart of deposited tokens
With this soar, EigenLayer is now ranked third among the many prime DeFi protocols by TVL, behind lending platform Aave and liquid staking protocol Lido.
EigenLayer wins assist from a16z
EigenLayer hit the market final June with its launch on Ethereum mainnet and shortly turned the highest platform for restaking with liquid suppliers corresponding to Lido and RocketPool.
Eigen Labs, the core improvement staff supporting the event of EigenLayer, raised $50 million in a Sequence A spherical led by Blockchain Capital in March 2023. Different notable traders additionally participated on this spherical, together with Coinbase Ventures, Polychain Capital, Electrical Capital, and Ethereal Ventures.
In February of this yr, Eigen Labs introduced $100 million in funding Former enterprise capital agency Andreessen Horowitz (a16z). In keeping with EigenLayer Labs, his a16z crypto was the one investor within the Sequence B funding spherical.
(Tag translation) Market
