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Ethereum Restaking Protocol EigenLayer Surpasses $10B in Total Value Locked (TVL)
The Ethereum (ETH) network has grown to a respectable Web3 ecosystem with more than $53 billion in TVL and over $73 billion in stablecoins market cap. The notable growth of the Ethereum network has been a result of the mass adoption of its web3 platforms led by decentralized exchange Uniswap (UNI), liquid staking platform Lido DAO (LDO), decentralized lending protocol AAVE, and liquid restaking platform EigenLayer.
Consequently, Ethereum price has closely mirrored that of Bitcoin in the already confirmed bull market.
EigenLayer Grows Exponentially
The Ethereum network has registered palpable growth since its transition from the Proof-of-Work (PoW) to the Proof-of-Stake (PoS) consensus mechanism through the merge event and the Shanghai upgrade. As of this writing, more than 31 million Ether worth over $108 billion had been staked through different programs.
EigenLayer protocol is b
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