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Etherfi: 6159% TVL Increase in 2024

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by A1

2 days ago

The Ethereum-based liquid restaking platform Etherfi achieved remarkable success in 2024, with its total value locked (TVL) surging by 6,159%.

What Is Etherfi?

Etherfi is a liquid restaking platform that allows Ethereum stakers to enhance their yields by leveraging staked ETH in DeFi protocols.

Etherfi's Growth Metrics in 2024

At the start of 2024, Etherfi's TVL was 45,770 ETH, which grew to 2.57 million ETH by the end of 2024, indicating a 6,159% growth. User wallets increased from 10,000 to 115,000, and the platform distributed over 150 million ETHFI tokens.

Factors Driving Etherfi’s Success

Key success factors include an innovative liquid restaking model, strong community engagement, and substantial institutional adoption.

Etherfi demonstrated significant growth in 2024, becoming the fourth-largest protocol on Ethereum, highlighting the potential of liquid restaking to drive user adoption and staking rewards.

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