What Does EigenLayer’s $2.3B Outflow Signal?
The chart of the day is brought to you by crypto.com, the leading crypto platform trusted by over 100 million users worldwide. Let’s delve into the chart of the day. Recently, billions of dollars worth of Ether have been withdrawn from resting protocols, resulting in a 13% drop in total value locked on the Eigen layer to $15.1 billion in the last month. Despite Ether’s current trading level being similar to June, some of the outflows can be attributed to depositors seeking to harvest points for upcoming airdrops and then moving on to other projects for higher returns. Data indicates that resting protocols like Renzo and Kelp have experienced significant decreases of 42% and 20% in total value locked, while one exception is Ether Five, which has seen a $100 million increase in TVL. That’s all for today’s chart of the day. I’m Jen Sanas, and we’ll be back soon to analyze more data behind the latest news stories.
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