Ethereum

Block

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April

ether.fi

The total value locked in Ethereum restaking protocols has jumped to $8.35 billion. 
The total value locked (<a href="https://crypto.news/tag/TVL/" target="_blank" rel="noreferrer noopener">TVL</a>) 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. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="801" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-01-at-17.43.55-1024x801.png" alt="Ethereum restaking protocols' TVL exceeds $8b - 17" class="wp-image-14262488">
 <figcaption class="wp-element-caption">
 Source: The Block
 </figcaption>
</figure> 
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 (<a href="https://crypto.news/price/Ethereum/">ETH</a>). In just one day, the protocol’s TVL increased by more than $1.5 billion. 
 You might also like: <a href="https://crypto.news/crypto-startup-eigenlayer-funding-vc-downturn/"> Crypto startup EigenLayer received $100m funding despite VC downturn </a> 
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 (<a href="https://crypto.news/tag/defi/" target="_blank" rel="noreferrer noopener">defi</a>) applications of 56% or $52 billion, according to DefiLlama. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="370" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-01-at-17.38.15-1024x370.png" alt="Ethereum restaking protocols' TVL exceeds $8b - 18" class="wp-image-14262491">
 <figcaption class="wp-element-caption">
 Source: DefiLlama
 </figcaption>
</figure> 
The demand for <a href="https://crypto.news/tag/staking/" target="_blank" rel="noreferrer noopener">staking</a> and network activity increased noticeably after the Shapella <a href="https://crypto.news/ethereum-price-surpasses-2100-following-the-shapella-upgrade/">upgrade</a> in April 2023. After the update, users were able to withdraw blocked cryptocurrency. 
 You might also like: <a href="https://crypto.news/liquid-staking-protocols-new-era-for-ethereum-validators/"> Liquid staking protocols: new era for Ethereum validators </a>

Ethereum restaking protocols’ TVL exceeds $8b

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