Ethereum restaking protocols’ TVL exceeds $8b
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.
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.
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.
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