[EigenLayer lifts cap, inflows record $157M as Lido dominance declines]
Ethereum restaking protocol EigenLayer received approximately $157 million in Lido-staking ETH in the past 24 hours, marking the highest inflow the platform has recorded since February. The record comes as Lido’s market share of the Ethereum staking market drops below 30% due to inflows into other re-staking protocols.
In addition, EigenLayer announced on April 16 that it would lift the cap on all ETH Liquidity Collateral Tokens (LST) and restart re-staking deposits, symbolizing that the ecosystem has entered a new stage. This move aims to encourage open market innovation and provide users with unlimited access to all LST pools. Previously, EigenLayer had set a cap in order to promote decentralization and reduce the risk of dominance of any single token. With the recent mainnet launch, these caps were permanently removed, but in order to keep governance neutral and decentralized, governance participation for any liquidity-collateralized token is limited to 33%.
Despite increased market volatility, EigenLayer still dominates the heavy betting sector, controlling 99% of the market. According to DediLlama, the total amount of ETH currently staked on the platform is around 4 million, worth over $12.2 billion.
According to the Dune Analytics dashboard produced by Dragonfly analyst Hildobby, Lido has had the most ETH outflows in the past month, about 400,000, and its market share has dropped to 28.87%. Meanwhile, liquidity restaking protocols like Ether.fi and Renzo attracted more than 700,000 ETH.
Ethereum educator Anthony Sassano said: “The best way to stop Lido from growing and eroding its market share is to make the mortgage space more competitive, and we have achieved this goal. The Ethereum mortgage ecosystem has never been healthier, and I look forward to it. Over time, it will become more decentralized.”
