New Restaking Protocol Symbiotic Crosses null Billion in Total Locked Value
Symbiotic has attracted 318,227 ETH since its inception less than a month ago, gaining some ground against restaking first mover EigenLayer, which has 5.09 million ETH in its smart contracts.

Nascent restaking protocol Symbiotic attracted over null billion in its smart contracts since its inception less than a month ago.

According to data from blockchain analytics firm DefiLlama, Symbiotic’s total value locked denominated in ETH has more than tripled over the past 24 hours from almost 92,000 ETH to 318,227 ETH at presstime.
Symbiotic’s rapid increase in total value locked helps the young protocol lay the groundwork to eat into EigenLayer’s massive head start. Since Symbiotic entered the restaking scene on June 11, EigenLayer’s TVL denominated in ETH has decreased by about 220,000 ETH worth about $723.6 million at current prices.