The decentralized finance (DeFi) sector is experiencing significant growth, with EigenLayer emerging as the 2nd largest DeFi project by total value locked (TVL), signaling the rise of restaking and liquid staking as major trends. The total DeFi TVL has surged to $143 billion, surpassing its May 2021 peak, and is now only 40% below its all-time high from November 2021. Ethereum (ETH) plays a pivotal role in this growth, with its market cap at 1/3rd of Bitcoin's (BTC) and offering advantages such as yielding 5%+, being deflationary, and serving as a proxy to crypto growth. Ethereum's price has exceeded $3,500, with 91% of ETH now 'in the money'. This resurgence in DeFi, highlighted by EigenLayer's TVL quintupling to $10B in just a month, positions it as the No.2 staking protocol alongside Lido, which has reached all-time highs with a TVL of $34B.
As #Ethereum inches past $3,500, 91% of $ETH is "in the money" according to data from blockchain analytics firm IntotheBlock. And what's good for ETH has been great for DeFi, which has nearly reached $100 billion in TVL. https://t.co/liF6klKNdl
Incredible - #EigenLayer TVL quintupled to $10B in a MONTH…now the No.2 staking protocol, with Lido TVL at $34B all-time-highs! https://t.co/WRiTxrZn7F https://t.co/d9tGtEp6lG Next milestone’s $100B+ DeFi TVL…and #KR1’s still the best & ONLY listed #DeFi play out there. https://t.co/8n3vFWqiDz
Seems like even Bloomberg folks don't get real implications what blockchain tech is capable of. At the end longterm very bullish for ETH with ETH sitting at 1/3rd mkt cap of BTC and having insanely better fundamentals (yielding 5%+, deflationary, proxy to crypto growth etc.) https://t.co/VO7xbBIenx
EigenLayer is going to be the 2nd largest DeFi project by TVL imminently. The rise of restaking and liquid restaking is the biggest on-chain trend of the year so far. https://t.co/qLE4sMVauJ
And just like that total DeFi TVL is back at $143 Billion (including liquid staking). Above its local peak in May 2021 and only a 40% move from its ATH in November 2021. https://t.co/qagtN7iqpT