Decentralized finance total value locked 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.surged from a Q4 2024 low of $36 billion to peak at almost $97 billion in the first quarter of 2024,to DefiLlama. Since the beginning of the year, it has increased by 81% to a two-year high of $98 billion last week.
“This uptick was primarily driven by asset price appreciation and liquid restaking, led by Ethereum's TVL growth of nearly 71%.”“Staking, liquid staking, restaking, and liquid restaking have all been catalysts of DeFi’s recent explosive growth,” it stated before adding that this “explains why staking now represents a large portion of DeFi’s TVL.”Additionally, liquid restaking protocols such as EigenLayer exploded in popularity and usage during the period.
Nevertheless, since the recent crypto market retreat, DeFi TVL has declined 11% to $86.6 billion at the time of writing.Bitcoin briefly dips under $60K amid reports of worsening Middle East crisisThe Runes protocol will ignite a new season for Bitcoin after the halving
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