{"id":19212,"date":"2024-04-30T07:20:53","date_gmt":"2024-04-30T11:20:53","guid":{"rendered":"http:\/\/leadingcryptonews.com\/karak-has-good-chance-of-becoming-next-eigenlayer-after-eigen-airdrop-disappointment\/"},"modified":"2024-04-30T07:20:53","modified_gmt":"2024-04-30T11:20:53","slug":"karak-has-good-chance-of-becoming-next-eigenlayer-after-eigen-airdrop-disappointment","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/karak-has-good-chance-of-becoming-next-eigenlayer-after-eigen-airdrop-disappointment\/","title":{"rendered":"Karak has ‘good chance’ of becoming next EigenLayer after EIGEN airdrop disappointment"},"content":{"rendered":"
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Emerging Ethereum restaking protocol Karak\u2019s total value locked (TVL) rose over 25% in the past week to over $440 million and industry experts believe it could start eating into EigenLayer\u2019s market share.<\/p>\n
Following the disappointment around the EigenLayer airdrop, Karak has a \u201cgood chance\u201d of become the next big restaking protocol, according to Anndy Lian, intergovernmental blockchain expert and author of NFT: From Zero to Hero. He told Cointelegraph:<\/p>\n
\u201cKarak supports a broader range of assets for restaking, including ETH, LST, LRT, stablecoins, LP tokens, and wrapped Bitcoin. This diversity could attract a wider user base looking for more options beyond ETH.\u201d<\/p><\/blockquote>\n
At the beginning of April, Karak closed a $48 million Series A funding round giving it a valuation of over $1 billion, which means more upside potential. By comparison, EigenLayer has a $15.7 billion valuation, making it the largest restaking protocol on Ethereum.<\/p>\n