Ethereum

DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/eigenlayer-protocols-staking-surge-strengthens-ethereums-tvl">EigenLayer Protocol’s Staking Surge Strengthens Ethereum’s TVL</a><br></p>
<p style="text-align: justify">The EigenLayer protocol, specializing in <a href="https://en.bitcoinhaber.net/ethereum-climbs-back-towards-3000-as-market-shows-bullish-sentiment">Ethereum</a> restaking, has observed a remarkable uptick in its Total Value Locked (TVL), soaring beyond the $11 billion threshold in a short span. This spike has predominantly been propelled by the crypto community’s burgeoning interest in Ethereum’s Layer-2 solutions and liquid staking mechanisms, as well as the anticipation of the upcoming Dencun Hard Fork slated for March 13th.</p> 
<h2 id="eigenlayer-s-financial-climb">EigenLayer’s Financial Climb</h2> 
<p style="text-align: justify">Initially recorded at $9.675 billion at the commencement of March, EigenLayer’s TVL has impressively climbed to $11.712 billion. The protocol’s financial ascent is closely associated with the revival of Ethereum beta games and the increasing appeal of Layer-2 tokens. The impending Dencun upgrade is expected to slash costs for these chains, possibly bolstering adoption of Ethereum’s altcoin and native tokens.</p> 
<h2 id="challenging-the-market-leader">Challenging the Market Leader</h2> 
<p style="text-align: justify">Now trailing only behind the staking giant Lido, EigenLayer has claimed the runner-up spot in the staking platform hierarchy. The platform’s restaking feature extends Ethereum’s <a href="https://en.bitcoinhaber.net/hack-alert-bounce-finances-social-media-compromised">security</a> and efficiency to other blockchains. The recent 20% spike in EigenLayer’s TVL, as reported by DeFiLlama, attests to its escalating prominence in the decentralized finance (DeFi) sector.</p> 
<p style="text-align: justify">With the EigenLayer protocol gaining traction, particularly due to the keenly anticipated Dencun Hard Fork, it has carved a niche for itself in the DeFi domain. Ethereum’s market price mirrors this momentum, trading near the $4,000 mark, with intraday peaks brushing $3,986.</p> 
<h2 id="anticipating-post-fork-outcomes">Anticipating Post-Fork Outcomes</h2> 
<p style="text-align: justify">This burgeoning trend suggests a potential uptick in Ethereum’s valuation post-fork, as it inches closer to the $4,000 milestone. The post-fork scenario could even see Ethereum shattering its record high, contingent on <a href="https://en.bitcoinhaber.net/bitcoin-surge-hits-short-sellers-as-sec-decision-on-spot-etfs-looms">Bitcoin</a>‘s market performance remaining stable without a downturn.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/eigenlayer-protocols-staking-surge-strengthens-ethereums-tvl">EigenLayer Protocol’s Staking Surge Strengthens Ethereum’s TVL</a></h5>

EigenLayer Protocol’s Staking Surge Strengthens Ethereum’s TVL

Table of Contents

BH NEWS

Other articles published on Mar 8, 2024

$1 Dogecoin (DOGE) incoming, crypto expert predicts

Memecoin price forecast: can it keep up with the memecoins frenzy as the likes of Kangamoon rise

Arizona Considers Adding Bitcoin ETFs to Retirement Funds

Cryptocurrencies Reach New Milestones in Market Surge

Anthony Pompliano Foresees Bitcoin Price Surge, Believes It Could Surpass Gold

Ethereum Fees Hit 2-Year High, Here's Major Driver

Join our free newsletter for daily crypto updates!