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 DefiLlama data.
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 re-staking 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 projects plans to permanently remove this limit in the future.
