As Ethereum kicked off the week with a strong performance, ERC20 assets have outpaced the broader market, recording an impressive growth of +8.1% over the past week.
📈 Powered by #Ethereum's rise to start the week, #ERC20 assets have been well ahead of the markets on average. The sector has grown by +8.1% in the past week. Keep an eye on the continued surge of $TON (+21%), $LDO (+12%), and $ENA (+12%)
Watchlist link: https://t.co/uex3LH2qHC pic.twitter.com/9wAvW1TLYe
— Santiment (@santimentfeed) April 9, 2024
This surge in Ethereum-based assets has been accompanied by a notable increase in the percentage of the $ETH supply being staked through Eigenlayer, surpassing the 3% mark. Eigenlayer’s Total Value Locked (TVL) has experienced significant positive momentum throughout April, reaching a new all-time high of $12.78 billion.
The total % of the $ETH supply being staked through @eigenlayer has now surpassed 3% pic.twitter.com/XuPGN7UImK
— IntoTheBlock (@intotheblock) April 8, 2024
Moreover, Base, another layer-two (L2) solution, has witnessed substantial inflows of ETH from large holders over the past month, marking the largest netflows to Base from large holders since September.
This indicates a growing confidence among large Ethereum holders in the potential of Base as a viable platform for their assets.
Large ETH holders have been pouring ETH into Base over the last month relative to other L2s. Largest netflows to Base from large holders since September. pic.twitter.com/KsUhGu76w8
— gablahbo (@gablahbo) April 8, 2024
The rise of ERC20 assets and the increased staking activity on Eigenlayer signify a bullish sentiment surrounding Ethereum’s ecosystem. Investors and stakeholders are increasingly turning to Ethereum-powered platforms and solutions, recognizing their potential for growth and innovation.
As Ethereum continues to evolve and expand its capabilities, including through the implementation of layer-two solutions like Eigenlayer and Base, the cryptocurrency market is poised for further developments and advancements.
This latest surge in ERC20 assets and staking activity underscores the ongoing transformation and maturation of the Ethereum network, positioning it as a key player in the broader blockchain landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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