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Eigenlayer Token EIGEN Unlocks for Trading on Binance Following Restaking Protocol Launch
Introduction
EigenLayer Protocol Launches EIGEN Token
Eigenlayer, a restaking protocol, is poised to unveil its eagerly awaited token, EIGEN, with trading commencing on Binance shortly after the launch.
EIGEN Token Features
Unique Staking Mechanism with ETH
EigenLayer offers a unique staking mechanism where users can stake ether (ETH) to secure various networks and earn additional rewards, fostering a vibrant ecosystem.
Market Trends
TVL Fluctuations and Increased Competition
The Total Value Locked (TVL) on EigenLayer has witnessed a significant decline of over 50% since June, influenced by intensified competition and a broader downturn in the restaking sector, currently standing at approximately $10 billion.
Token Allocation and Airdrop
Early Adopters Rewarded with “Stakedrop”
Out of the total token supply of 1.6 billion, 86 million EIGEN tokens are allocated to early adopters, who will receive a “stakedrop” as a token of appreciation for their support.
Market Performance
Price Volatility and Trading Volume
The initial price of the EIGEN token, currently at $4.11 based on Aevo’s perpetual exchange market, may experience volatility upon release. Trading volume has reached $191,000 in the last 24 hours, with a fully diluted value (FDV) of $6.8 billion.
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