EigenLayer, an Ethereum re-staking protocol, saw a surge in its total value locked that is now reaching nearly $240 million.

The increase came shortly after the platform’s second round of deposit caps for liquid staking assets such as Lido Staked ETH, Rocket Pool ETH and Coinbase Wrapped Staked ETH were filled quickly.

EigenLayer's primary function is to re-stake ether and the aforementioned liquid staking tokens to secure other blockchain networks. Stage 1 of EigenLayer was launched on the Ethereum mainnet in June.

The team set a re-staking limit of 100,000 ETH ($165 million), which was quickly met after it was temporarily opened yesterday, leading to the cessation of new deposits for the assets.

With this, the protocol’s assets grew substantially from $78 million to now hold assets …