EigenLayer TVL reaches $12.9B, up 11% in one week – IntoTheBlock

EigenLayer TVL reaches $12.9B, up 11% in one week - IntoTheBlock


In the year On August 15, EigenLayer, a restocking platform built on Ethereum, has a leading position in the restocking ecosystem, with a total value locked (TVL) of $12.9 billion.

According to IntoTheBlock (ITB) data, EigenLayer TVL increased 11% from $11.6 billion a week ago, reflecting growth in the re-sector.

Redeem involves repurchasing their cryptocurrency assets to secure external Active Verified Services (AVS), where users have the potential to earn additional rewards.

ITB data showing EigenLayer's dominance in the remarketing market. Source: ITB

Related: Reset is ‘inevitable', but the risks are still uncertain – Ether.fi CEO

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70% of EigenLayer TVL in WETH

According to ITB data, EigenLayer's TVL primarily includes Wrapped Ether (WETH), which accounts for 70% of the platform's total assets of approximately $8.8 billion.

This significant WETH focus indicates that EigenLayer's renewable ecosystem reflects the broader market, where Ether (ETH)-based tokens are commonly used for liquid offerings.

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ITB chart showing WETH's concentration of ‘retained asset TVL'. Source: ITB

Restoration of market growth

While EigenLayer has confirmed its leading position in TVL in the remarketing market, other protocols are also showing growth.

According to ITB data, Symbiotic, another recovery platform built on Ethereum, launched in June. As of August 14th, Wrapped Staked ETH (WSTETH) has hit 1.07 billion TVL, comprising 63% of its assets.

Related: EigenLayer improves EigenDA security to fight Sybil attacks Karak, another recent entrant into the relaunch market, hit $826 million TVL, with a 27% stake in the platform that includes WETH.

Overall, the retransmission market's largest protocols TVL rose to $14.5 billion from $13.3 billion on August 8.

Speaking with Cointelegraph, SSV.Labs CEO and Founder Alon Murok discussed the rationale behind the development, noting that it is “very likely” due to the “launch of the AVS Rewards mainnet and the opening of the shutdown.”

“This is a ‘big step' for EigenLayer and it's the first time EigenDA starts rewarding its stakeholders and operators, so it could bring more interest to the startup.

ETH to become the main revival

In the year On August 13, Mike Silagaze, CEO of the liquidation reset protocol Ether.fi, spoke at the Blockchain Futurist Conference about reprocessing being mainstream.

Silagaze explained that although the “risk of relapse” is not yet “fully characterized,” there are many reasons to believe that the risks may be “very low.”

The risk discussed by Silagaze is that equity-owned assets are “smeared by five different networks” rather than one, but their weight results in higher rewards.

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