The total value locked (TVL) within Ethereum restaking protocols has recently surged, reaching a substantial $8.35 billion mark.

Among these protocols, ether.fi stands out with a TVL surpassing $3.2 billion, securing its position as a leading player in the ecosystem. Following closely behind is Renzo, boasting a TVL of $2 billion, while Puffer takes the third spot with a TVL of $1.3 billion, as reported by The Block.

A significant spike in activity was observed on February 5th, when EigenLayer experienced a notable uptick, attracting a staggering $1.18 billion in investments. This surge occurred shortly after the protocol lifted the cap on maximum restaked assets, allowing for a substantial increase in TVL. Within a single day, EigenLayer's TVL skyrocketed by over $1.5 billion, demonstrating immense investor confidence and interest.

By February 20th, the aggregated TVL within restaking protocols had soared to $3.5 billion, indicating a remarkable growth trajectory within a relatively short span. Notably, the sector witnessed a surge in demand and participation, largely driven by platforms like ether.fi and Puffer, which boasted TVLs of $1.36 billion and $1.02 billion, respectively.

In the broader decentralized finance (DeFi) landscape, Ethereum maintains its dominance, capturing 56% of the total value locked, equivalent to $52 billion, according to DefiLlama data.

The surge in staking demand and network activity can be attributed to the Shapella upgrade implemented in April 2023. This pivotal upgrade enabled users to withdraw previously locked cryptocurrency, resulting in heightened engagement and interest across the Ethereum ecosystem.