Demex Daily #83: EigenLayer's Cap Lift Boosts TVL to $3.2B, Spurs Ethereum Restaking Surge

What’s Interesting Today:

EigenLayer has lifted its 200,000 ETH staking limit for a brief period, leading to a significant $750 million increase in its total value locked (TVL), which now exceeds $3 billion. This decision facilitated the influx of over 1 million ETH into the protocol within hours, boosting the TVL to $3.2 billion. The protocol enables additional interest earnings through the restaking of ETH, with support for tokens such as Lido's stETH and Rocket Pool's RETH. Notably, stETH from Lido represented 80% of the recent influx. EigenLayer intends to set a new temporary cap by February 9 and aims to permanently eliminate deposit restrictions in the future. Alongside, the protocol is gearing up for its mainnet launch and the introduction of EigenDA, a decentralized data service. However, the rapid growth in restaking has raised concerns about potential stress on the Ethereum network.

Trade ETHEREUM ETH-PERP on Demex!

Ethereum Name Service (ENS) has partnered with GoDaddy to enable easy linking of GoDaddy domains with ENS ".eth" addresses, aiming to bridge traditional DNS services with blockchain technology. This collaboration comes despite ENS previously suing GoDaddy for selling the eth.link domain unlawfully, a lawsuit ENS won. The partnership signifies a significant step towards merging DNS with blockchain, enhancing user domain interaction. Following the announcement, the ENS token price increased by 6%. ENS registrations surged in 2022 but have since slowed, with over 2 million domains currently registered through ENS.

Trade ETHEREUM ETH-PERP on Demex!