Ethereum liquid restaking drove DeFi TVL to $100B in first quarter
Protocols such as Lido and EigenLayer have been behind the DeFi TVL resurgence.
Decentralized finance total value locked (TVL) almost doubled in the first three months of this year compared to the previous quarter, partially driven by Ethereum liquid restaking initiatives, according to recent research.
DeFi total value locked surged from a Q4 2023 low of $36 billion to peak at almost $97 billion in the first quarter of 2024, according to DefiLlama. Since the beginning of the year, it has increased by 81% to a two-year high of $98 billion last week.
Messari reported slightly higher TVL figures on April 18, noting that DeFi collateral increased by 65.6% quarter-on-quarter to reach $101 billion. However, it attributed this growth to the prices of the underlying assets increasing and liquid restaking.
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Author: Martin Young
