Restaking Gold Rush Comes to Abrupt End for Top Crypto Protocols

The restaking gold rush in the crypto space has reached its end, according to recent reports. This phenomenon refers to the practice of staking cryptocurrencies as collateral and then re-staking them for more rewards.

Top protocols that have been riding this wave are now barely making a profit from their operations. In fact, data suggests that they are losing money due to the increasing costs associated with maintaining these operations.

The shift in fortunes can be attributed to the rising gas fees, which have made it more expensive for validators and stakers to participate in the process.