Share this article
Ether Staking Demand Remains Unfazed as EigenLayer 100K ETH Cap Limit Filled Within Hours
Future cap increases will need to be approved by EigenLayer's multisignatory governance system.
Updated Aug 23, 2023, 12:47 p.m. Published Aug 23, 2023, 9:03 a.m.
Make us preferred on Google
Decentralized finance (DeFi) platform EigenLayer has seen a 207% surge in total value locked (TVL) after it raised its liquid restaking cap to 100,000 ether .
The restaking protocol, which went live in June, hit the 100,000 cap in a matter of hours as TVL rose from $78 million to $238 million, according to DefiLlama. TVL refers to the number of tokens locked on any crypto platform.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
EigenLayer gradually increases its liquid staking token cap before initiating a global pause in order to "enable a more extensive network of users to actively participate in restaking endeavors," as per technical documents.
Read More: Ethereum 'Restaking' Takes Shape as Next Big Trend in Blockchain Security
The protocol allows those staking ETH to restake those assets by depositing liquid staking tokens (LSTs) including lido stETH (stETH), rocket pool ETH (rETH) and coinbase-wrapped staked ETH (cbETH).
Restaking is a method of obtaining additional rewards on ETH that are staked on the main Ethereum blockchain. Users are required to stake 32 ETH to become network validators – or entities that supply computing resources to a blockchain for processing transactions.
All future LST cap increases will be determined by a governance process that needs to be approved by EigenLayer's multisignatory governance system.
EigenLabs, the developer of EigenLayer, raised a total of $64.5 million earlier this year including $50 million in a Series A round led by Blockchain Capital.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
