EigenLayer, the Ethereum restaking protocol, has experienced a significant surge in the cryptocurrency landscape, now ranking as the fourth-largest protocol by total value locked (TVL).
This growth, amounting to a remarkable 307% increase in the past month alone, has propelled EigenLayer's TVL to $6.99 billion as of February 15, surpassing JustLend.
Data from DefiLlama reveals a 47.95% increase in TVL within just the past week, attributed to EigenLayer's decision to lift its staking cap temporarily on February 5.
Despite reintroducing a new staking cap, EigenLayer plans to permanently eliminate this limitation, underscoring its commitment to fostering an unrestricted environment for user growth and investment opportunities.