The restaking protocol’s TVL is up 307% during the past month following the temporary removal of its staking cap.
Ethereum restaking protocol EigenLayer has become the fourth-largest protocol by total value locked (TVL), surpassing cryptocurrency lending protocol JustLend.
EigenLayer’s TVL rose 5.73% to $6.99 billion on Feb. 15. The restaking protocol’s TVL is up 47.95% in the past seven days and 307% over the past month, according to data from DefiLlama.
EigenLayer’s TVL started rising on Feb. 5 after the protocol temporarily removed its staking cap aiming to incentivize organic growth, according to an official announcement. During this restaking window, EigenLayer’s TVL rose over 181% to $6.05 billion on Feb. 10 from just $2.15 billion on Feb. 5. While a new staking cap was applied, the project plans to permanently remove this limit in the future.
