以太坊的流动性质押飙升至历史新高，标志着 DeFi 主导时代的到来

以太坊的重新抵押行业正在经历激增，流动性重新抵押代币 (LRT) 的锁定总价值 (TVL) 达到了超过 85 亿美元的历史新高。顶级轻轨项目 Renzo、Swell 和 EtherFi 引领了这一增长，而先锋协议 EigenLayer 拥有 124 亿美元的主导 TVL。 Base、Linea 和 Arbitrum 等 Layer 2 网络也出现了重大活动，Base 的 TVL 在一周内增长了 62.7%，达到 32 亿美元。

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

以太坊的流动性重新抵押行业上升到前所未有的高度，标志着 DeFi 主导地位的新时代

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.

以太坊生态系统目前的流动性重新抵押领域正在迅速飙升，这些金融工具的锁定总价值（TVL）达到了历史新高。截至 4 月 1 日，流动性重新抵押代币 (LRT) 协议的 TVL 已飙升 4%，达到惊人的 85 亿美元，这证明了这一新兴资产类别的受欢迎程度和实用性不断扩大。

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.

引领潮流的是 Renzo，这是一个开创性的轻轨项目，最近几周经历了非凡的增长。 Renzo 的 TVL 在短短一周内飙升了 51.4%，自本月初以来飙升了 191%，使其达到 22 亿美元的市场主导地位。

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 是另一个取得重大进展的轻轨协议，其 TVL 在过去一周上升了 33.5%，在过去一个月上升了 109%。这一增长使其 TVL 达到健康的 2.611 亿美元，表明对去中心化流动性解决方案的需求不断增长。

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.

轻轨领域无可争议的领导者 EtherFi 也实现了稳定增长，每周增长 17.5%，每月增长 78%。这将 EtherFi 的 TVL 推向了新的高度，接近 33.8 亿美元，并进一步巩固了其作为流动性重新抵押领域主导力量的地位。

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.

轻轨的崛起并非孤立于这些表现最佳的企业。 EigenLayer 是一种开创性的以太坊重质押协议，目前的 TVL 为 124 亿美元，仅比历史最高水平低 1%。总体 TVL 的激增表明投资者越来越偏爱流动性质押解决方案，该解决方案提供了访问质押资产的灵活性，同时仍能获得奖励。

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 的原生代币 ETHFI 的积极表现为该行业增添了动力。尽管近期市场低迷，但 ETHFI 却逆势上涨，自 3 月 18 日空投以来上涨了 55.5%。这种韧性表明 ETHFI 具有超越其初始分配的内在价值，表明人们对流动性重新抵押行业的未来充满信心。

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.

虽然流动性重新抵押继续推动以太坊基础层的活动，但第 2 层 (L2) 网络的交易量也出现激增，尤其是在去中心化交易所 (DEX) 上。 Linea、Base 和 Arbitrum 在 24 小时吞吐量方面均超过了以太坊主网，每秒处理的交易量 (TPS) 分别为 30.4、25.8 和 20.4，而以太坊的每秒处理量为 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 已成为 L2 生态系统中的佼佼者，网络 TVL 在 7 天内飙升 62.7%，达到 32 亿美元。自 3 月初以来，Base-native DeFi 协议的 TVL 也飙升了 150%，达到 12 亿美元的高位。

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 的增长受到 memecoin 交易者涌入的推动，Uniswap 报告称，其 Base 部署的日交易量于 3 月 31 日首次超过 10 亿美元。DEGEN，该网络的顶级 memecoin，在过去见证了 1,000% 的飞速上涨两周。

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 的天文数字般的崛起归因于其新发现的实用性，即作为 Base 赠款资金的媒介以及作为该项目第 3 层网络 Degen Chain 的网络代币。 Augur 产品经理 Tom Kysar 最近在推特上表示，Degen Chain 的 TVL 已达到 6000 万美元，链上交易量排名第八。

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.

流动性重新抵押和 L2 解决方案的激增凸显了以太坊生态系统的日益成熟。这些创新正在提高去中心化金融（DeFi）的可扩展性、效率和灵活性，吸引新用户并巩固以太坊作为去中心化应用和金融服务领先区块链的地位。随着 DeFi 格局的不断发展，流动性重新抵押和 L2 网络将在塑造下一代金融基础设施方面发挥越来越关键的作用。