Throughout 2024, the total value locked (TVL) in Ethereum liquid restaking protocols soared from $284 million to $17 billion, marking an increase of nearly 6000%.
The majority of this amount ($9.1 billion) is attributed to the Ether.Fi protocol, followed by Kelp ($1.8 billion), Eigenpie ($1.6 billion), and Renzo ($1.4 billion).
These figures indicate the growing popularity of restaking and associated liquidity tokens, despite previously voiced concerns about detachment from the underlying asset and risks of a yield crisis.
Nevertheless, Ethereum restaking significantly lags behind traditional staking in terms of volume. The total TVL of such protocols exceeds $53 billion.
According to Dune, at the time of writing, a total of 34.4 million ETH, valued at approximately $133 billion, is locked in Ethereum staking — accounting for 28.1% of the coin’s total issuance.
On December 12, TVL in the Bitcoin staking protocol Babylon reached $3.63 billion.