EigenLayer

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/etherfi-dominates-the-liquid-restaking-sector/" data-wpel-link="internal">Etherfi Dominates the Liquid Restaking Sector</a> 
Data currently shows that the Etherfi protocol dominates the liquid restaking (LRT) sector. Recent figures indicate that user deposits within the protocol have reached $3.8 billion. Positioned as a leading protocol in the LRT sector, Etherfi facilitates access to restaking yields through the EigenLayer protocol, thereby increasing its role in the evolving LRT market. The industry is facing significant growth due to the impact of increasing deposits in EigenLayer, which aims to empower third-party protocols and increase the total value locked (TVL) in LRTs. 
<h2 style="text-align: justify" id="strong-etherfi-s-rise-positively-influences-other-protocols-strong">Etherfi’s Rise Positively Influences Other Protocols</h2> 
Etherfi’s deposits exceeding $3.8 billion has had a significant impact on other protocols, leading the LRT sector. Renzo, Puffer, Kelp, Swell, and Eigen collectively contribute billions, enhancing the sector’s importance. According to data from The Block’s dashboard, Renzo leads with $2.9 billion, followed by Puffer with $1.4 billion, Kelp with $840 million, Swell with $345 million, and Eigen with $340 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-339360" src="https://coin-turk.com/wp-content/uploads/2024/04/Etherfi-LRT.png" alt="" width="754" height="569"> 
As known, restaking mechanisms allow users to use their staked <a href="https://en.coin-turk.com/us-crypto-regulations-stir-debate-as-cftc-chairman-speaks-out/" data-wpel-link="internal">ETH</a> or equivalent liquid stake tokens in protocols like EigenLayer for restaking efforts. This process involves allocating ETH to support Ethereum-based applications referred to as “actively validated services,” thus preserving liquidity and accessibility for users’ ETH capital while enhancing <a href="https://en.coin-turk.com/ethereums-path-to-a-new-high-is-it-eths-turn/" data-wpel-link="internal">Ethereum</a>‘s security framework. 
Liquid restaking protocols act as gateways for users to interact with EigenLayer’s services and receive derivative tokens as incentives. These protocols encourage user participation in the ecosystem involving LRTs and EigenLayer’s reward programs by accepting ETH deposits, restructuring them, and issuing derivative tokens. 
Furthermore, LRT protocols serve as an alternative path for users who do not possess the required 32 ETH for native or direct restaking, significantly contributing to the sector’s growth. According to data, the top LRT protocols have gathered assets totaling $9.7 billion, constituting more than two-thirds of EigenLayer’s $13 billion TVL. 
<h2 style="text-align: justify" id="strong-powered-by-anticipated-airdrops-strong">Powered by Anticipated AirDrops</h2> 
Experts partly attribute the growth in the liquid stake sector to anticipated AirDrops from liquid stake projects and EigenLayer, supporting its meteoric growth trajectory. Analysts note that users tend to restake their assets in alternative options after earning AirDrops in LRTs and receiving their funds. Indeed, despite having completed an AirDrop distribution last month, Etherfi maintains its dominant position within the industry. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/etherfi-dominates-the-liquid-restaking-sector/" data-wpel-link="internal">Etherfi Dominates the Liquid Restaking Sector</a></h5>

Etherfi Dominates the Liquid Restaking Sector

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