EigenLayer's total value locked has climbed above $15 billion after the protocol removed its caps, opening the door for more capital to enter the system. The move came shortly after the April 9 launch, when actively validated services, or AVSs, began operating live and gave the market a fresh reason to watch the Ethereum restaking project.
Cap removal became the immediate trigger for TVL growth
The latest jump in TVL followed a clear protocol change rather than a headline cycle alone. Once the caps were lifted, more native ETH and liquid staked ETH could flow into EigenLayer. Its model lets users stake ETH and then restake that same capital to help secure other protocols, a structure that drew renewed attention once the system moved into live operation.
Timing mattered. The April 9 launch was not just a milestone on a roadmap; it marked the point at which AVSs started functioning in a live setting. That shifted EigenLayer from a project watched for future potential into one tied to active infrastructure, and capital often responds quickly to that kind of transition.
EigenDA lowered the operator minimum from 320 ETH to 96 ETH
A second catalyst came from EigenDA, which reduced the minimum stake for operators on its data availability layer from 320 ETH to 96 ETH. The cut was substantial. It did not make the operator role simple or inexpensive, but it lowered the barrier in a way that was easy for the market to price in.
The change also reshaped the operator story around the protocol. A lower threshold can broaden participation, while live AVSs give operators a clearer function inside the network. That combination pushed attention beyond locked value alone and toward the services that this collateral base could support across Ethereum.
Six AVSs went live as operator participation widened
After the update, EigenLayer EIGEN launched six AVSs: AltLayer, Brevis, Eoracle, Lagrange, WitnessChain, and Xterio. The rollout added substance to the post-launch phase. Instead of a single narrative centered on deposits, the project now had a visible service layer coming online.
Protocol operators also included cloud divisions from Google, Coinbase, and HashKey. Founder Sreeram Kannan wrote on X that using more ETH as collateral can strengthen ETH as a risk asset for economic security. That comment captured the protocol's core thesis: locked ETH is not only sitting in reserve, it can be reused to secure a broader set of onchain services.
Attention now shifts from deposits to service expansion
This phase for EigenLayer brought together fresh deposits, live AVSs, and lower operator requirements in a short span. TVL crossing $15 billion is the headline figure, but the next question for the market is whether the growth of live services can keep pace with the surge in capital entering the protocol.