EigenLayer TVL crosses $15 billion despite potential yield crisis

Source Fxstreet
  • EigenLayer’s total value locked climbed to $15.13 billion on Tuesday. 
  • Crypto experts say the Ethereum staking protocol could face a major yield crisis as it outpaces the security needs of its rapidly growing ecosystem. 
  • Despite the potential yield crisis, EigenLayer dominates re-staking protocols with the highest TVL. 

EigenLayer has locked $15.13 billion in crypto assets on its restaking platform since its launch on April 9, piling on assets from users even as the staking protocol has been criticized for growing faster than its ecosystem can secure. 

EigenLayer gathers $15.13 billion in crypto on its chain

Data from crypto intelligence tracker DeFiLlama shows that the largest Ethereum restaking protocol’s Total Value Locked (TVL) crossed $15 billion on Tuesday. The protocol’s TVL has climbed nearly 9% since April 9, the project’s launch date. 

EigenLayer

EigenLayer TVL 

According to an official tweet by the protocol, 2.2 million of restaker Ether has been delegated on EigenLayer since the mainnet launch. 

The project has launched a total of six actively validated services with several functionalities to address users’ needs in the Ethereum ecosystem. Coinbase Cloud, Ankr, and the Graph Foundation are among the protocol’s operators, as seen on ethrestaking.com. 

Potential yield crisis faces EigenLayer

Chudnov Glavniy, creator of a crypto-native derivatives protocol “3jane” on EigenLayer, recently shared his views on the project in a tweet thread on X. The expert says that the restaking protocol is likely facing a major yield crisis, with over $15 billion TVL and less than 10% of it needed for security, Glavniy’s argument is that “yields may fall off a cliff.” 

The expert states that despite good technology, EigenLayer may be “biting off more than it can chew by opening the door to more than $15 billion in deposits.”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Solana Price Forecast: SOL eyes record highs as institutional demand, on-chain metrics underpin rallySolana (SOL) price trades in green, above $242 at the time of writing on Monday, after breaking out of a parallel channel last week with bulls aiming for record highs.
Author  FXStreet
Sep 15, Mon
Solana (SOL) price trades in green, above $242 at the time of writing on Monday, after breaking out of a parallel channel last week with bulls aiming for record highs.
placeholder
Top 3 Price Prediction: BTC steadies, ETH finds support, XRP breaks bullish pattern Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) hover around key levels after recovering by nearly 4%, 7%, and 6%, respectively, last week.
Author  FXStreet
Sep 15, Mon
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) hover around key levels after recovering by nearly 4%, 7%, and 6%, respectively, last week.
placeholder
Gold sits near record high as Fed rate cut bets keep USD depressedGold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
Author  FXStreet
Yesterday 05: 56
Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
placeholder
USD/CHF slumps to near 0.7900 as Fed dovish bets weigh on US DollarThe USD/CHF pair falls sharply to near 0.7915 during the European trading session on Tuesday.
Author  FXStreet
Yesterday 08: 28
The USD/CHF pair falls sharply to near 0.7915 during the European trading session on Tuesday.
placeholder
Forex Today: US Dollar remains weak pre-Fed, Gold hits new record-highThe US Dollar (USD) stays under modest bearish pressure early Tuesday as investors adjust their positions ahead of the Federal Reserve's critical two-day policy meeting.
Author  FXStreet
Yesterday 08: 36
The US Dollar (USD) stays under modest bearish pressure early Tuesday as investors adjust their positions ahead of the Federal Reserve's critical two-day policy meeting.
goTop
quote