Ethereum

Symbiotic

EigenLayer

Karak

EigenLayer, an Ethereum restaking platform, topped the restaking ecosystem after hitting a TVL of $12.9 billion. According to data from IntoTheBlock, a crypto data analytics company, the TVL surged by 11% in one week from $11.6 billion. 
Ethereum restaking platform EigenLayer recently became a honeypot for investors. The platform’s total value locked surged 11% from $11.6 billion to $12.9 billion in the past week, according to data from IntoTheBlock. 
The growth has been significantly influenced by the growing interest in Ethereum-based staking activities and Actively Validated Services (AVS) rewards. Ethereum restaking involves the repurposing of Ether to improve capital efficiency.&nbsp; 
During the restaking process, crypto owners also secure actively validated services (AVS) and bear the possibility of earning extra rewards. 
<h3 id="span-style-font-weight-400-eigenlayer-alongside-other-eth-restaking-protocols-records-an-upsurge-in-tvl-span">EigenLayer, alongside other ETH restaking protocols, records an upsurge in TVL</h3> 
The total value locked in Ethereum restaking protocols also recorded an upsurge of $1.2 billion from $13.3 billion on August 8th to $14.5 billion. On June 12th, Eigen Labs, the development firm behind the creation of the EigenLayer restaking protocol, acquired Rio Network in a bid to outsource Rio’s liquid restaking token technology. 
<figure id="attachment_569450" aria-describedby="caption-attachment-569450" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-569450 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/08/EigenLayer-Dominance.jpg" alt="" width="1280" height="726" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/08/EigenLayer-Dominance.jpg 1280w, https://www.cryptopolitan.com/wp-content/uploads/2024/08/EigenLayer-Dominance-300x170.jpg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/08/EigenLayer-Dominance-1200x681.jpg 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/08/EigenLayer-Dominance-768x436.jpg 768w" sizes="(max-width: 1280px) 100vw, 1280px">
 <figcaption id="caption-attachment-569450" class="wp-caption-text">
 EigenLayer dominance in the restaking market Source: <a href="https://app.intotheblock.com/perspectives/restaking_ecosystem" rel="nofollow noopener" target="_blank">IntoTheBlock</a>
 </figcaption>
</figure> 
The data from IntoTheBlock depicts that most of the total value locked in EigenLayer is wrapped ether (WETH). Wrapped Ether represents 70% of the platform’s total locked assets, valued at approximately $8.8 billion. 
EigenLayer’s total asset constitution mirrors the broader restaking market that has utilized Ethereum-based tokens to provide liquidity on the staking platforms.&nbsp; 
According to <a href="https://defillama.com/protocol/eigenlayer?mcap=false&amp;tvl=false&amp;activeAddresses=true" rel="nofollow noopener" target="_blank">data</a> from DeFillama, the number of active addresses on the protocol peaked on May 11th at 33.47k. However, the active address count has declined significantly, currently ranging between 40 and 240 from August 1st to 15th. 
While EigenLayer remains the top-ranked Ethereum-based restaking platform, other protocols have also recorded considerable growth in their TVLs.&nbsp; 
<h3 id="span-style-font-weight-400-symbiotic-and-karak-also-record-significant-growth-span">Symbiotic and Karak also record significant growth</h3> 
Symbiotic, a new entrant in the Ethereum restaking ecosystem also got its spotlight after hitting $1.57 billion in total assets locked on August 16th, according to Defillama. Like EigenLayer, Symbiotic’s holdings is majorly wrapped-stripped ETH (WSTETH), accounting for 63% of the protocol’s TLV.&nbsp; 
Karak, another new member in the restaking ecosystem, also recorded significant growth, hitting $826 million in TVL. For this particular protocol, wrapped Ether holdings represent 27% of its total locked assets. 
Mike Silagadze, CEO of liquid Ethereum restaking protocol Ether.fi, spoke on the future of restaking platforms on August 13th at a blockchain conference in Canada.&nbsp; 
According to Silagadze, the restaking of Ethereum will eventually go mainstream despite the current uncertainty in the yields. The CEO also mentioned that the risk of having five different networks slashing staked assets exists, but the rewards could also be enhanced.

EigenLayer TVL hits $12.9 billion and surges 11% in one week

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