Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
EIGEN, the native token of the Ethereum-based EigenLayer protocol, is now fully unlocked, enabling it to be traded, transferred, or staked. Following its launch, EIGEN began trading at a strong price of $4.32, which corresponds to a fully diluted value of $7.2 billion, as reported by CoinMarketCap. Binance saw 43% of the trading volume on the EIGEN/USDT pair after listing the token when it went live on October 1st.
Eigen’s Role in Expanding AVS Development
The unlocking of the EIGEN token has opened new opportunities for developers to create Actively Validated Services (AVS) within the EigenLayer ecosystem. By staking EIGEN, participants can support the growth of these services, and EigenLayer plans to introduce programmatic incentives for those actively involved. Aylo, the pseudonymous founder of Alpha Please, commented that the protocol could hold a much higher valuation than currently expected, especially as it grows as an “AWS for decentralized services.”
The EIGEN token’s unlock follows two airdrop phases. During Season 1, EigenLayer distributed 113 million EIGEN tokens to restakers. Season 2 saw 86 million tokens primarily allocated to node operators and stakers engaging with the protocol. This token distribution helped EigenLayer attract significant attention, with its Total Value Locked (TVL) peaking at nearly $20 billion in June. However, TVL has since decreased to around $12 billion, partly due to users withdrawing their funds after receiving airdrop rewards.
A report that sparked controversy suggested that Eigen Labs had shared employee wallet addresses with ecosystem projects planning token airdrops. In response, EigenLayer issued a statement denying any wrongdoing, affirming that it had “no knowledge or evidence” of employees pressuring any projects for undue benefits during the airdrop process.
Make money without lifting your fingers: Start using a world-class auto trading solution.
LonghornFX, your trusted Partner in CFDs, Cryptocurrencies and Stocks.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.