Popular liquid staking platform Ether.fi continues to dominate the sector, boasting a total value locked (TVL) of over $3.74 billion. As per recent data, the platform is managing more than 1.03 million ETH, surpassing its competitors by a significant margin. The closest competitor, the Renzo protocol, currently manages $2.9 billion in user deposits as of April 9.

The liquid restaking sector has experienced substantial growth in recent months, largely driven by deposits on the EigenLayer protocol. Ether.fi alone has attracted over $1.5 billion worth of deposits in the past month.

Notably, last month, Ether.fi observed 120,000 ETH staked from an address owned by Tron founder Justin Sun. The platform is currently running a staking campaign called “staking frens,” where users staking 1 ETH will receive 1 ETHFI, the platform’s native token, daily until the campaign concludes on April 18. Additionally, stakers will share $500K USD worth of ZK tokens.

Ether.fi enables users to access restaking yields through the EigenLayer protocol, which allows for staking ETH or Liquid Staking Tokens (LSTs) across multiple protocols on the Ethereum blockchain.

Liquid staking protocols, like EigenLayer, offer users the opportunity to participate in various services while maintaining the liquidity and accessibility of their ETH capital. By accepting ether deposits, these protocols re-stake them and issue derivative tokens, such as Liquid Restaking Tokens (LRTs), providing users with additional incentives to engage with the ecosystem.

For users who do not have the required 32 ETH for native or direct staking, LRT protocols offer a viable alternative. This accessibility has contributed to the significant asset accumulation within the top protocols, totaling $9.7 billion. This amount represents more than two-thirds of the TVL on EigenLayer, which currently stands at $13.58 billion.

With the increasing demand for LRT protocols, Google Could has introduced its EigenLayer mainnet node operator, listed as a node operator on the Goerli testnet for EigenLayer.

Overall, the liquid staking sector is witnessing remarkable growth, driven by platforms like Ether.fi and the innovative solutions they offer to users seeking to maximize their returns on cryptocurrency investments.

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