Cryptocurrencies

EigenLayer rises as fourth-largest protocol in crypto with 307% surge in TVL

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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.

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