Ethereum restaking protocols’ TVL exceeds $8b

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The whole worth locked in Ethereum restaking protocols has jumped to $8.35 billion.

The whole worth locked (TVL) of the venture exceeded $3.2 billion. Renzo is in second place with $2 billion, whereas knowledge from The Block exhibits that Puffer is third with TVL at $1.3 billion.

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

EigenLayer additionally noticed an uptick in exercise on Feb. 5, when the protocol raised $1.18 billion after the venture lifted the cap on the utmost restaked property of 200,000 Ethereum (ETH). In simply someday, the protocol’s TVL elevated by greater than $1.5 billion.

On Feb. 20, the restaking TVL determine was $3.5 billion; in lower than two months, TVL was over 100%. The section noticed sharp development in February and was dominated by and Puffer, which have TVLs of $1.36 billion and $1.02 billion, respectively. Ethereum has achieved dominance in whole worth locked in decentralized finance (defi) functions of 56% or $52 billion, in keeping with DefiLlama.

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

The demand for staking and community exercise elevated noticeably after the Shapella upgrade in April 2023. After the replace, customers have been capable of withdraw blocked cryptocurrency.

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