EigenLayer approaches $7 billion TVL, making it the 4th largest re-staking protocol.
Ethereum’s EigenLayer reacceptance protocol has become the fourth largest protocol by Total Value Locked (TVL).
According to DefiLlama, the protocol’s TVL reached $6.99 billion. Since February 5, this figure has more than tripled, from $2.15 billion to 307% over the past month.
EigenLayer’s TVL began growing on February 5 after the protocol temporarily lifted staking limits to encourage organic growth. During this re-staking period, TVL Eigenlayer increased by 181% from $2.15 billion on February 5 to $6.05 billion on February 10. A new staking limit has been implemented, but the project plans to permanently remove this limit in the future.
According to Defillama, liquid staking is currently the largest protocol category with a TVL of $42.69 billion, while re-staking protocols come in sixth with a total TTL of $6.99 billion.
The EigenLayer protocol is currently at the forefront of Ethereum (ETH) re-staking. Re-staking is a new concept that allows already staked ETH tokens to be used to secure other key network elements, including protocols, Oracle networks, and layer 2 solutions. With the help of the protocol, market participants can earn additional income. According to the developers, re-staking will also help increase the level of decentralization of ETH.
The cryptocurrency community is also expecting an airdrop from the EigenLayer team as the project does not yet have a native token.