2 months ago
Ethereum, the second-largest integer plus by marketplace capitalization, is trading adjacent the pivotal $4000 milestone for the archetypal time since December 2021, up 15% during the past week.
Amid this terms rally, starring restaking protocol EigenLayer is present the second-largest DeFi protocol successful presumption of full worth locked, according to DeFillama data.
ETH’s price
Ethereum is presently priced astatine $3954 pursuing a 4% summation during the past day, according to CryptoSlate’s data.
This upward question successful Ethereum’s worth tin beryllium linked to the excitement surrounding the upcoming Dencun upgrade scheduled to spell live connected the mainnet by Mar. 13. Dencun brings proto-danksharding to Ethereum, a strategical determination aimed astatine lowering transaction expenses for layer-2 blockchains, frankincense tackling scalability concerns head-on.
Moreover, the marketplace is anticipating the potential support of a spot ETH ETF by the US SEC. Should this support materialize, it could service arsenic a important catalyst propelling the ongoing terms surge adjacent further.
EigenLayer’s soaring TVL
EigenLayer’s TVL soared to an all-time highest of $11.7 cardinal during the week, surpassing Aave’s TVL of $11.4 billion.
Notably, connected Mar. 5, the protocol witnessed a staggering $790 cardinal affirmative alteration successful TVL, marking its highest regular surge since Feb. 9, according to blockchain analytical steadfast IntoTheBlock.
EigenLayer TVL Variations (Source: IntoTheBlock)The maturation trajectory of EigenLayer’s TVL has been remarkable, particularly successful the past 30 days, witnessing a five-fold surge from astir $2 cardinal astatine the commencement of the erstwhile period to its existent figure. Impressively, the full assets locked connected the protocol person skyrocketed to much than 3 cardinal ETH, up from nether 1 cardinal successful aboriginal February.
EigenLayer’s Total Value Locked. (Source: DeFillama)This surge successful TVL intimately follows EigenLayer’s determination to assistance token restaking restrictions and destruct TVL caps for idiosyncratic tokens past month. Community members expect these changes to go imperishable sometime aboriginal this year.
Meanwhile, EigenLayer’s distinctive restaking exemplary attracted important investments, notably a $50 cardinal Series A backing circular successful March 2023 led by Blockchain Capital and a $100 cardinal investment from Andreessen Horowitz successful February 2024.
However, EigenLayer’s accelerated maturation has prompted heightened information scrutiny, prompting the task to connection rewards of up to $100,000 to researchers uncovering the platform’s mean oregon higher severity information issues.
The station Ethereum edges adjacent $4000 arsenic EigenLayer becomes second-largest DeFi protocol appeared archetypal connected CryptoSlate.
English (US) 