以太坊的流動性質押飆升至歷史新高，標誌著 DeFi 主導時代的到來

以太坊的重新抵押行業正在經歷激增，流動性重新抵押代幣 (LRT) 的鎖定總價值 (TVL) 達到了超過 85 億美元的歷史新高。頂級輕軌項目 Renzo、Swell 和 EtherFi 引領了這一增長，而先鋒協議 EigenLayer 擁有 124 億美元的主導 TVL。 Base、Linea 和 Arbitrum 等 Layer 2 網路也出現了重大活動，Base 的 TVL 在一周內增長了 62.7%，達到 32 億美元。

Ethereum's Liquid Restaking Sector Ascends to Unprecedented Heights, Signaling a New Era of DeFi Dominance

以太坊的流動性重新抵押產業上升到前所未有的高度，標誌著 DeFi 主導地位的新時代

The Ethereum ecosystem is currently witnessing a meteoric surge in its liquid restaking sector, with the total value locked (TVL) in these financial instruments reaching record-shattering highs. As of April 1, the TVL of liquid restaking token (LRT) protocols had soared by 4% to a staggering $8.5 billion, a testament to the expanding popularity and utility of this emerging asset class.

以太坊生態系統目前的流動性重新抵押領域正在迅速飆升，這些金融工具的鎖定總價值（TVL）達到了歷史新高。截至 4 月 1 日，流動性重新抵押代幣 (LRT) 協議的 TVL 已飆升 4%，達到驚人的 85 億美元，證明了這一新興資產類別的受歡迎程度和實用性不斷擴大。

Leading the charge is Renzo, a trailblazing LRT project that has experienced extraordinary growth in recent weeks. Renzo's TVL has surged by an impressive 51.4% in just one week and a remarkable 191% since the beginning of the month, propelling it to a market dominance of $2.2 billion.

引領潮流的是 Renzo，這是一個開創性的輕軌項目，最近幾週經歷了非凡的成長。 Renzo 的 TVL 在短短一周內飆升了 51.4%，自本月初以來飆升了 191%，使其達到 22 億美元的市場主導地位。

Swell is another LRT protocol making significant strides, with its TVL climbing by 33.5% over the past week and 109% over the past month. This growth has pushed its TVL to a healthy $261.1 million, demonstrating the increasing demand for decentralized liquidity solutions.

Swell 是另一個取得重大進展的輕軌協議，其 TVL 在過去一周上升了 33.5%，在過去一個月上升了 109%。這一增長使其 TVL 達到健康的 2.611 億美元，表明對去中心化流動性解決方案的需求不斷增長。

EtherFi, the undisputed leader in the LRT sector, has also enjoyed steady growth, posting 17.5% weekly and 78% monthly gains. This has propelled EtherFi's TVL to new heights, approaching $3.38 billion and further cementing its position as the dominant force in the liquid restaking landscape.

輕軌領域無可爭議的領導者 EtherFi 也實現了穩定成長，每週成長 17.5%，每月成長 78%。這將 EtherFi 的 TVL 推向了新的高度，接近 33.8 億美元，並進一步鞏固了其作為流動性重新抵押領域主導力量的地位。

The rise of LRTs is not isolated to these top performers. EigenLayer, a pioneering Ethereum restaking protocol, currently boasts a TVL of $12.4 billion, just 1% below its all-time high. This surge in overall TVL indicates a growing preference among investors for liquid staking solutions, which offer the flexibility to access staked assets while still earning rewards.

輕軌的崛起並非孤立於這些表現最佳的企業。 EigenLayer 是一種開創性的以太坊重質押協議，目前的 TVL 為 124 億美元，僅比歷史最高水準低 1%。整體 TVL 的激增表明投資者越來越偏好流動性質押解決方案，該解決方案提供了訪問質押資產的靈活性，同時仍能獲得獎勵。

Adding to the sector's momentum is the positive performance of ETHFI, EtherFi's native token. Despite the recent market downturn, ETHFI has bucked the trend, rising by 55.5% since its airdrop on March 18. This resilience suggests that ETHFI has inherent value beyond its initial distribution, signaling confidence in the future of the liquid restaking sector.

EtherFi 的原生代幣 ETHFI 的積極表現為該行業增添了動力。儘管近期市場低迷，但ETHFI 卻逆勢上漲，自3 月18 日空投以來上漲了55.5%。這種韌性表明ETHFI 具有超越其初始分配的內在價值，表明人們對流動性重新抵押行業的未來充滿信心。

While liquid restaking continues to drive activity on Ethereum's base layer, Layer 2 (L2) networks are also experiencing a surge in transaction volume, particularly on decentralized exchanges (DEXs). Linea, Base, and Arbitrum have all surpassed the Ethereum mainnet in terms of 24-hour throughput, processing 30.4, 25.8, and 20.4 transactions per second (TPS), respectively, compared to Ethereum's 15.1 TPS.

雖然流動性重新抵押繼續推動以太坊基礎層的活動，但第 2 層 (L2) 網路的交易量也出現激增，尤其是在去中心化交易所 (DEX) 上。 Linea、Base 和 Arbitrum 在 24 小時吞吐量方面均超過了以太坊主網，每秒處理的交易量 (TPS) 分別為 30.4、25.8 和 20.4，而以太坊的每秒處理量為 15.1 TPS。

Base has emerged as a standout performer in the L2 ecosystem, with network TVL skyrocketing by 62.7% in seven days to reach $3.2 billion. The TVL of Base-native DeFi protocols has also surged by 150% since the beginning of March, reaching a high of $1.2 billion.

Base 已成為 L2 生態系統的佼佼者，網路 TVL 在 7 天內飆升 62.7%，達到 32 億美元。自 3 月初以來，Base-native DeFi 協議的 TVL 也飆升了 150%，達到 12 億美元的高點。

Base's growth has been fueled by an influx of memecoin traders, with Uniswap reporting that daily volume for its Base deployment exceeded $1 billion for the first time on March 31. DEGEN, the network's top memecoin, has witnessed a meteoric 1,000% gain over the past two weeks.

Base 的成長受到memecoin 交易者湧入的推動，Uniswap 報告稱，其Base 部署的日交易量於3 月31 日首次超過10 億美元。DEGEN，該網絡的頂級memecoin，在過去見證了1,000% 的飛速上漲兩週。

DEGEN's astronomical rise is attributed to its newfound utility as a medium for grants funding on Base and as the network token for the project's Layer 3 network, Degen Chain. Tom Kysar, product manager at Augur, recently tweeted that Degen Chain had already amassed $60 million in TVL and ranked eighth in terms of on-chain volume.

DEGEN 的天文數字般的崛起歸因於其新發現的實用性，即作為 Base 贈款資金的媒介以及作為該項目第 3 層網絡 Degen Chain 的網絡代幣。 Augur 產品經理 Tom Kysar 最近在推特上表示，Degen Chain 的 TVL 已達到 6000 萬美元，鏈上交易量排名第八。

The surging popularity of liquid restaking and L2 solutions underscores the growing maturity of the Ethereum ecosystem. These innovations are increasing the scalability, efficiency, and flexibility of decentralized finance (DeFi), attracting new users and solidifying Ethereum's position as the leading blockchain for decentralized applications and financial services. As the DeFi landscape continues to evolve, liquid restaking and L2 networks are poised to play an increasingly pivotal role in shaping the next generation of financial infrastructure.

流動性重新抵押和 L2 解決方案的激增凸顯了以太坊生態系統的日益成熟。這些創新正在提高去中心化金融（DeFi）的可擴展性、效率和靈活性，吸引新用戶並鞏固以太坊作為去中心化應用和金融服務領先區塊鏈的地位。隨著 DeFi 格局的不斷發展，流動性重新抵押和 L2 網路將在塑造下一代金融基礎設施方面發揮越來越關鍵的作用。