• bitcoinBitcoin (BTC) $ 87,991.00
  • ethereumEthereum (ETH) $ 2,961.38
  • tetherTether (USDT) $ 0.998862
  • bnbBNB (BNB) $ 892.26
  • xrpXRP (XRP) $ 1.90
  • usd-coinUSDC (USDC) $ 0.999614
  • solanaSolana (SOL) $ 125.16
  • jusdJUSD (JUSD) $ 0.999053
  • staked-etherLido Staked Ether (STETH) $ 2,965.14
  • tronTRON (TRX) $ 0.294459
  • dogecoinDogecoin (DOGE) $ 0.123703
  • figure-helocFigure Heloc (FIGR_HELOC) $ 1.04
  • cardanoCardano (ADA) $ 0.354437
  • wrapped-stethWrapped stETH (WSTETH) $ 3,631.92
  • bitcoin-cashBitcoin Cash (BCH) $ 592.07
  • whitebitWhiteBIT Coin (WBT) $ 53.91
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 87,971.00
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 3,226.53
  • wrapped-eethWrapped eETH (WEETH) $ 3,221.77
  • usdsUSDS (USDS) $ 0.999618
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998806
  • moneroMonero (XMR) $ 466.33
  • chainlinkChainlink (LINK) $ 12.05
  • leo-tokenLEO Token (LEO) $ 9.25
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 88,189.00
  • wethWETH (WETH) $ 2,963.81
  • hyperliquidHyperliquid (HYPE) $ 28.18
  • stellarStellar (XLM) $ 0.207064
  • ethena-usdeEthena USDe (USDE) $ 0.998645
  • zcashZcash (ZEC) $ 392.77
  • canton-networkCanton (CC) $ 0.154308
  • suiSui (SUI) $ 1.44
  • litecoinLitecoin (LTC) $ 69.99
  • avalanche-2Avalanche (AVAX) $ 11.79
  • usd1-wlfiUSD1 (USD1) $ 0.999773
  • shiba-inuShiba Inu (SHIB) $ 0.000008
  • hedera-hashgraphHedera (HBAR) $ 0.106131
  • usdt0USDT0 (USDT0) $ 0.997923
  • daiDai (DAI) $ 0.999305
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.157650
  • susdssUSDS (SUSDS) $ 1.08
  • paypal-usdPayPal USD (PYUSD) $ 0.998665
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.22
  • the-open-networkToncoin (TON) $ 1.52
  • crypto-com-chainCronos (CRO) $ 0.090587
  • rainRain (RAIN) $ 0.010075
  • polkadotPolkadot (DOT) $ 1.86
  • uniswapUniswap (UNI) $ 4.72
  • mantleMantle (MNT) $ 0.883646
  • tether-goldTether Gold (XAUT) $ 5,082.51
  • memecoreMemeCore (M) $ 1.52
  • bitget-tokenBitget Token (BGB) $ 3.57
  • aaveAave (AAVE) $ 156.10
  • bittensorBittensor (TAO) $ 232.38
  • okbOKB (OKB) $ 105.72
  • falcon-financeFalcon USD (USDF) $ 0.995284
  • pax-goldPAX Gold (PAXG) $ 5,097.16
  • pepePepe (PEPE) $ 0.000005
  • nearNEAR Protocol (NEAR) $ 1.48
  • pump-funPump.fun (PUMP) $ 0.003127
  • internet-computerInternet Computer (ICP) $ 3.31
  • jito-staked-solJito Staked SOL (JITOSOL) $ 157.47
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,966.59
  • ethereum-classicEthereum Classic (ETC) $ 11.39
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,156.57
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • htx-daoHTX DAO (HTX) $ 0.000002
  • ondo-financeOndo (ONDO) $ 0.329551
  • hashnote-usycCircle USYC (USYC) $ 1.11
  • aster-2Aster (ASTER) $ 0.650191
  • global-dollarGlobal Dollar (USDG) $ 0.999293
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.57
  • hash-2Provenance Blockchain (HASH) $ 0.027394
  • skySky (SKY) $ 0.063619
  • pi-networkPi Network (PI) $ 0.173050
  • kucoin-sharesKuCoin (KCS) $ 10.75
  • ripple-usdRipple USD (RLUSD) $ 0.999559
  • wbnbWrapped BNB (WBNB) $ 892.88
  • binance-staked-solBinance Staked SOL (BNSOL) $ 136.46
  • ethenaEthena (ENA) $ 0.169791
  • riverRiver (RIVER) $ 70.85
  • syrupusdcsyrupUSDC (SYRUPUSDC) $ 1.15
  • bfusdBFUSD (BFUSD) $ 0.998377
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999615
  • worldcoin-wldWorldcoin (WLD) $ 0.460053
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,427.16
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.116565
  • aptosAptos (APT) $ 1.55
  • myx-financeMYX Finance (MYX) $ 6.06
  • gatechain-tokenGate (GT) $ 9.91
  • usddUSDD (USDD) $ 0.999014
  • cosmosCosmos Hub (ATOM) $ 2.23
  • algorandAlgorand (ALGO) $ 0.120988
  • kaspaKaspa (KAS) $ 0.039607
  • midnight-3Midnight (NIGHT) $ 0.060527
  • arbitrumArbitrum (ARB) $ 0.169560
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 88,265.00
  • ignition-fbtcFunction FBTC (FBTC) $ 88,806.00
  • render-tokenRender (RENDER) $ 1.85
  • official-trumpOfficial Trump (TRUMP) $ 4.79
  • nexoNEXO (NEXO) $ 0.951037
  • filecoinFilecoin (FIL) $ 1.27
  • bridged-usdc-polygon-pos-bridgePolygon Bridged USDC (Polygon PoS) (USDC.E) $ 0.999627
  • vechainVeChain (VET) $ 0.010117
  • flare-networksFlare (FLR) $ 0.010480
  • usdtbUSDtb (USDTB) $ 0.998121
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,229.84
  • syrupusdtsyrupUSDT (SYRUPUSDT) $ 1.11
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,181.53
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.97
  • dashDash (DASH) $ 61.66
  • bonkBonk (BONK) $ 0.000009
  • wrappedm-by-m0WrappedM by M0 (WM) $ 0.999274
  • story-2Story (IP) $ 2.13
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 87,984.00
  • xdce-crowd-saleXDC Network (XDC) $ 0.038647
  • janus-henderson-anemoy-aaa-clo-fundJanus Henderson Anemoy AAA CLO Fund (JAAA) $ 1.02
  • ousgOUSG (OUSG) $ 114.09
  • sei-networkSei (SEI) $ 0.105734
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,179.34
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 87,880.00
  • clbtcclBTC (CLBTC) $ 89,838.00
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.10
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 3,152.29
  • morphoMorpho (MORPHO) $ 1.23
  • jupiter-exchange-solanaJupiter (JUP) $ 0.199051
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 28.51
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.92
  • eutblSpiko EU T-Bills Money Market Fund (EUTBL) $ 1.25
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,964.78
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999750
  • usdaiUSDai (USDAI) $ 0.999484
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 145.80
  • binance-peg-xrpBinance-Peg XRP (XRP) $ 1.90
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.009610
  • wrapped-flareWrapped Flare (WFLR) $ 0.010479
  • tezosTezos (XTZ) $ 0.561770
  • beldexBeldex (BDX) $ 0.079517
  • chilizChiliz (CHZ) $ 0.057195
  • optimismOptimism (OP) $ 0.296642
  • usual-usdUsual USD (USD0) $ 0.996193
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,961.97
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.818461
  • blockstackStacks (STX) $ 0.299560
  • c8ntinuumc8ntinuum (CTM) $ 0.121885
  • tbtctBTC (TBTC) $ 87,901.00
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.222813
  • curve-dao-tokenCurve DAO (CRV) $ 0.342770
  • a7a5A7A5 (A7A5) $ 0.012943
  • janus-henderson-anemoy-treasury-fundJanus Henderson Anemoy Treasury Fund (JTRSY) $ 1.09
  • gtethGTETH (GTETH) $ 2,968.99
  • ghoGHO (GHO) $ 0.999523
  • true-usdTrueUSD (TUSD) $ 0.998604
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997616
  • fasttokenFasttoken (FTN) $ 1.09
  • lighterLighter (LIT) $ 1.86
  • ether-fi-liquid-ethEther.Fi Liquid ETH (LIQUIDETH) $ 3,190.01
  • injective-protocolInjective (INJ) $ 4.42
  • cap-usdCap USD (CUSD) $ 1.00
  • lido-daoLido DAO (LDO) $ 0.517216
  • msolMarinade Staked SOL (MSOL) $ 170.05
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,326.50
  • steakhouse-usdc-morpho-vaultSteakhouse USDC Morpho Vault (STEAKUSDC) $ 1.12
  • ether-fiEther.fi (ETHFI) $ 0.597442
  • kaiaKaia (KAIA) $ 0.071453
  • aerodrome-financeAerodrome Finance (AERO) $ 0.450858
  • doublezeroDoubleZero (2Z) $ 0.117352
  • axie-infinityAxie Infinity (AXS) $ 2.39
  • stader-ethxStader ETHx (ETHX) $ 3,198.04
  • flokiFLOKI (FLOKI) $ 0.000042
  • newton-projectAB (AB) $ 0.004130
  • sbtc-2sBTC (SBTC) $ 89,058.00
  • layerzeroLayerZero (ZRO) $ 2.01
  • kinesis-silverKinesis Silver (KAG) $ 107.96
  • stable-2​​Stable (STABLE) $ 0.022356
  • usdbUSDB (USDB) $ 0.981268
  • resolv-usrResolv USR (USR) $ 0.999855
  • bittorrentBitTorrent (BTT) $ 0.00000040
  • justJUST (JST) $ 0.044391
  • staked-aaveStaked Aave (STKAAVE) $ 155.56
  • euro-coinEURC (EURC) $ 1.20
  • celestiaCelestia (TIA) $ 0.445720
  • syrupMaple Finance (SYRUP) $ 0.338400
  • kinesis-goldKinesis Gold (KAU) $ 163.19
  • resolv-wstusrResolv wstUSR (WSTUSR) $ 1.13
  • pippinpippin (PIPPIN) $ 0.386098
  • the-graphThe Graph (GRT) $ 0.036001
  • gnosisGnosis (GNO) $ 141.06
  • wrapped-apecoinWrapped ApeCoin (WAPE) $ 0.183298
  • pyth-networkPyth Network (PYTH) $ 0.063155
  • iotaIOTA (IOTA) $ 0.085402
  • starknetStarknet (STRK) $ 0.068514
  • spx6900SPX6900 (SPX) $ 0.380207
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.855222
  • bitcoin-svBitcoin SV (BSV) $ 17.67
  • conflux-tokenConflux (CFX) $ 0.067629
  • apenftAINFT (NFT) $ 0.00000035
  • crvusdcrvUSD (CRVUSD) $ 0.998223
  • decredDecred (DCR) $ 20.09
  • ethereum-name-serviceEthereum Name Service (ENS) $ 8.94
DeFi

CHART: Restaking assets down 33% in two months

By admin
0 106

CHART: Restaking assets down 33% in two months

This summer, crypto restaking protocols were rallying to new heights. Almost without exception, these leveraged plays on the native yield of proof-of-stake blockchains like Ethereum and Solana were attracting all-time high capital inflows.

As of June 5, their total value locked (TVL) — a convenient albeit incomplete metric for judging the size of crypto protocols — had crested $21 billion.

Protos has created a chart illustrating the breakdown of this TVL — click here to view.

However, as of publication time, the assets in those protocols had declined by one-third to $14 billion.

As investors return from summer vacation, university classes restart, and capital allocators reassess their portfolios with sober professionalism, the world has decided to take some risk off the table at the start of the third quarter.

Declines in these USD values are influenced by general declines in ETH, SOL, and other restaking assets. Since June 5, the crypto market has shed 26% of its total market capitalization.

Restaking: More leverage, liquidation, complexity, and risk

Restaking protocols enable crypto asset holders to leverage staked assets like ETH or SOL to generate additional yield. Anil Lulla of Delphi called it “the rehypothecation of ETH to riskier networks,” and it certainly has both of those qualities.

Restaking rehypothecates, or ‘double-allocates,’ an asset across two or more protocols. A common restaking strategy involves Ethereum + Lido + EigenLayer, among many other examples. The introduction of these additional protocols beyond the base layer — in this case, Lido and EigenLayer — introduces the additional risk of two networks into one’s investment.

As compensation for these additional risks, restaking schemes advertise yields with annualized percentages in the double and even triple digits.

“Looping,” or taking out additional loans after restaking in order to restake yet again can transform these numbers into quadruple digits and beyond.

Source

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