DeFi Sector's TVL Surpasses $100 Billion, EigenLayer Becomes Second Largest by TVL

The decentralized finance (DeFi) sector has achieved a significant milestone with the total value locked (TVL) surpassing $100 billion for the first time since May 2022. This surge is attributed to various factors including the growth in assets deposited in EigenLayer, which soared from $1.1 billion to $10 billion, bolstered by 2.93 million ETH through liquid restaking protocols and price appreciation. EigenLayer has now become the second largest project in DeFi by TVL, overtaking Aave with $10.4 billion locked in. The DeFi sector's growth is further evidenced by the liquid restaking TVL's expansion from $300 million to $5.5 billion within the year. The breakdown of the TVL includes contributions from lending ($32.62 billion), decentralized exchanges ($19.97 billion), collateralized debt positions ($12.22 billion), and restaking activities ($10.06 billion). Additionally, Ethereum Layer 2 networks have seen a record increase in daily fees, hitting a new peak of $59 million in the first two months of 2024 alone, indicating a strong demand for block space.