
Ethereum liquid restaking drives DeFi TVL to 2-year highs. Cronos unveils Spring Odyssey campaign powered by Galxe. Runes launch fueled Bitcoin miners’ earnings to surge.
This week’s market capitalisation index was positive at +14.05%, while volume and volatility indices were negative at -46.34% and -65.61% respectively.
The total value locked (TVL) of the DeFi sector almost doubled in the first quarter of this year compared to the previous quarter, surging from a Q4 2023 low of US$36 billion to a peak at nearly $97 billion in Q1 2024. To date, it has increased by 138% year-to-date to a two-year high of $104.21 billion.
DeFi’s recent explosive growth has been partially driven by Ethereum liquid restaking initiatives during the period. This has been echoed by other sources, attributing it to several catalysts in the sector including increased activities within restaking and liquid restaking. Staking and liquid restaking have also reached the top ten DeFi categories, with liquid restaking representing approximately $10.35 billion of DeFi’s TVL – led by Ether.fi and Renzo protocols.
Alpha Navigator: Quest for Alpha [March 2024] | Research Roundup Newsletter [March 2024] | Crypto.com Visa Card Consumer Spending Insights 2023 |
What Is dYdX and How to Buy DYDX | What Are Bitcoin Runes and Why Is Everyone Talking About Them? | What Is ERC-404? Pandora’s Hybrid Token |
Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you!
Research and Insights Team
Disclaimer
The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report, nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
The brands and the logos appearing in this report are registered trademarks of their respective owners.
Get your step-by-step guide to setting upan account with Crypto.com
By clicking the Submit button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.