TVL EigenLayer crossed the $11 billion mark

EigenLayer restaking

On March 6, 2024, the total value of blocked funds (TVL) in the EigenLayer restaking protocol exceeded $11 billion. EigenLayer was able to beat the AAVE, Maker, JustLend and Summer.fi projects by this indicator. Meanwhile, it is still trailing Lido Finance's liquid staking protocol, whose TVL is $37.21 billion at the time of writing.

Indicator

According to dropstab, the eigenlayer market cap began to rise rapidly on February 5, when the project lifted the limit on the maximum amount of assets in a permutation of 200,000 ETH. In just one day, the TVL of the protocol increased by more than 1.5 billion dollars. The total growth for the month was more than 380%. On February 20, 2024, TVL in EigenLayer-based relocation protocols crossed the $3.5 billion mark. Significant deposit growth was seen in projects such as Etherfi, Renzo, Kelp, Puffer and Bedrock.

Unique users

Note that in March, the number of unique users of EigenLayer exceeded 115,000, according to Dune Analytics. At the beginning of February 2023, the liquid restaking protocol attracted $50 million within the Series A financing round. Then the project valuation increased to $250 million.

In February 2024, venture capital firm Andreessen Horowitz (a16z) invested $100 million in EigenLayer. A few days later, the project team entered into a partnership with the Ritual AI platform.