流动质押激增推动加密货币市场复苏

在最近的加密货币市场复苏中，流动性重新质押协议获得了极大的欢迎，控制着近 5% 的质押以太坊 (ETH)。这些协议以 32.7 亿美元的 TVL 为首，通过 EigenLayer 提供更高的灵活性和对质押资金的访问，从而推动了它们的采用。然而，对潜在安全和财务风险的担忧凸显了在广泛采用流动性重新抵押代币（LRT）之前需要进行进一步评估。

Surge in Popularity for Liquid Restaking Protocols amidst Cryptocurrency Market Resurgence

加密货币市场复苏，流动性重新抵押协议人气激增

Recent months have witnessed a stratospheric rise in the prominence of liquid restaking protocols within the crypto market. These protocols have swiftly established a commanding presence, now controlling nearly 5% of staked Ether (ETH), signaling a fundamental shift in industry dynamics.

近几个月来，加密货币市场中流动性重新抵押协议的重要性急剧上升。这些协议迅​​速占据了主导地位，目前控制着近 5% 的质押以太坊 (ETH)，标志着行业动态发生了根本性转变。

Pseudonymous DeFi researcher @hildobby_ has meticulously compiled data, revealing that the majority of ETH staking occurred in 2024, a period of remarkable buoyancy for the digital asset realm.

匿名 DeFi 研究员 @hildobby_ 精心整理了数据，显示大部分 ETH 质押发生在 2024 年，这是数字资产领域显着繁荣的时期。

DefiLlama data indicates that the total value locked (TVL) of liquid restaking tokens (LRTs) has surged past the $8.3 billion mark, with ether.fi spearheading the charge. Ether.fi boasts an impressive TVL of $3.27 billion, while Renzo trails closely behind with a TVL of $2.3 billion.

DefiLlama 数据显示，流动性重新抵押代币 (LRT) 的锁定总价值 (TVL) 已飙升至 83 亿美元大关，其中以 ether.fi 为首。 Ether.fi 拥有令人印象深刻的 32.7 亿美元的 TVL，而 Renzo 紧随其后，其 TVL 为 23 亿美元。

Over the past few weeks, protocols such as Kelp and Puffer have witnessed substantial growth, propelled by the relentless surge in the popularity of ETH liquid restaking protocols.

在过去的几周里，在 ETH 流动性重新抵押协议的受欢迎程度不断飙升的推动下，Kelp 和 Puffer 等协议出现了大幅增长。

The adoption of EigenLayer lies at the epicenter of this trend, facilitating restaking while enabling investors to retain unfettered access to their funds. This innovative approach has been instrumental in augmenting the TVL of the aforementioned protocols.

EigenLayer 的采用是这一趋势的中心，它促进了重新质押，同时使投资者能够不受限制地使用其资金。这种创新方法有助于增强上述协议的 TVL。

In a recent report, Coinbase analysts David Han and David Duong astutely observed that Ethereum's restaking protocol, EigenLayer, possesses the potential to emerge as "the bedrock for a wide range of new services and middleware on Ethereum."

在最近的一份报告中，Coinbase 分析师 David Han 和 David Duong 敏锐地观察到，以太坊的重新抵押协议 EigenLayer 有潜力成为“以太坊上各种新服务和中间件的基石”。

However, Han and Duong caution against complacency, emphasizing that LRTs "can compound risks" and "may pose additional risks compared to existing staking products, both from a security and financial perspective."

然而，Han 和 Duong 警告不要自满，强调轻轨“可能会加剧风险”，并且“从安全和财务角度来看，与现有的质押产品相比，可能会带来额外的风险”。

Conversely, DeFi researcher Ignas predicts that the upcoming crypto bull cycle will be propelled by restaking and Bitcoin Ordinals.

相反，DeFi 研究员 Ignas 预测，即将到来的加密货币牛市周期将由重新抵押和比特币序数推动。