One corner of crypto has shaken off a prolonged digital-asset slump to come within touching distance of an all-time high.

The sector is liquid staking, which offers easier access to the rewards earned when tokens are pledged to help operate blockchains. DefiLlama data shows that the value of assets locked in liquid staking services has jumped 292% to $20 billion from a June 2022 low, when crypto was reeling from a crisis.

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One Corner of Crypto Is Back Near a Record High After a $15 Billion Surge