Category: News, NFT News

EigenLayer Amasses More Than 10% Of Circulating LSTs

EigenLayer’s TVL tripled since temporarily removing caps on its LST pools on Feb. 5.

EigenLayer, the pioneering Ethereum restaking protocol, has amassed more than 10% of circulating ETH liquid staking tokens after temporarily removing the caps on its LST pools.

On Feb. 5, EigenLayer announced it would accept unrestricted deposits in the form of liquid staking tokens (LSTs) until Feb. 9 at 8pm EST. The move proved an immediate success, with more than $1.5B worth of LSTs flowing into the protocol within 24 hours of the announcement.

EigenLayer’s total value locked (TVL) is up 163% since the caps were removed, with its TVL growing from $2.15B to $5.67B as of this writing. Data from Dune Analytics indicates EigenLayer currently hosts 10.7% of the circulating LST supply, with the metric tripling since the caps were lifted.

EigenLayer supports 12 LSTs after adding three more on Feb. 5. Lido’s stETH accounts for 56.7% of EigenLayer’s liquid staking TVL, followed by Swell’s swETH with 12%, Mantle’s mETH with 10.9%, and Stader’s ETHX with 5.6%.