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.