Ethereum's liquid restaking protocols have seen a massive surge in total value locked (TVL) in 2024, skyrocketing by nearly 6,000%. Starting the year at $284 million, the TVL reached a staggering $17.26 billion by mid-December, according to DefiLlama. This growth is driven by the utility of liquid restaking tokens (LRTs), which simplify traditional Ether staking and boost capital efficiency in DeFi. LRTs allow stakers to use derivative tokens for additional staking, enhancing liquidity but also introducing risks like price volatility. Ether.fi leads the market with over 50% share, valued at $9.17 billion.