Analysis: The Launch of Babylon and the Current Status of the Five Major BTC LSTs
Author: defioasis At the middle of this year, the Restaking sector, represented by projects like EigenLayer, Karak, Symbiotic, and Solayer, surpassed a locking scale of $20 billion. As EigenLayer corresponds to Ethereum, Babylon, the most important project in the BTC Staking narrative, has attracted significant market attention since the launch of its testnet. After two rounds of open staking limits, Babylon's direct deposit addresses have exceeded 25,000, with over 23,000 bitcoins deposited. The Babylon BTC Staking narrative has driven the growth of BTC LST From last year to the beginning of this year, the Ethereum ecosystem, leveraging EigenLayer for Restaking, has increased the overall ETH staking rate. This has also led to a continuous rise in LST deposits, setting new highs for an extended period, and they remain elevated. As Babylon's popularity brings the spring breeze of Staking to the Bitcoin ecosystem, it has also promoted the development of LST within its ecosystem. ...