#EIGENonBinance EigenLayer’s EIGEN Token Begins Trading Valued at $7.16B
EigenLayer’s native token, EIGEN, has surged 11% in value since its launch, with a market cap of $769 million.
Key Notes
EigenLayer has launched EIGEN, debuting at $3.90 with a fully diluted valuation of $6.51 billion.
EIGEN's value surged over 11% with a new fully diluted valuation of $7.16 billion.
The token's current market cap stands at $769 million, placing it 88th among the largest cryptocurrencies.
EigenLayer, a decentralized finance (DeFi) protocol known for its unique restaking approach, has officially launched its native token EIGEN
EIGEN
$3.81
. The token began trading on several centralized exchanges, including Binance and MEXC, on Tuesday, October 1.
The debut price for EIGEN was set at $3.90, with an initial fully diluted valuation of $6.51 billion. Since then, the token’s value has surged, rising over 11% to $4.12, driving its fully diluted valuation to $7.16 billion.
EIGEN currently has a market capitalization of $769 million, placing it at 88th among the largest cryptocurrencies. Over the past 24 hours, the token has seen trading volumes of $413 million, indicating strong market interest as it solidifies its presence in the crypto ecosystem.
EigenLayer’s tokenomics strategy has been inclusive, with 1.67 billion EIGEN tokens entering the market, including 86 million that were airdropped to users earlier this year.
This airdrop strategy aims to incentivize users who have been actively participating in the EigenLayer ecosystem, reinforcing their commitment to the network’s success.
Unlike many governance tokens in the crypto space, EigenLayer has positioned EIGEN as a “Universal Intersubjective Work Token”.
According to a blog post from EigenLayer, this innovative concept aims to address challenges around universality, isolation, metering, and compensation.
The token will rely on social consensus and forking mechanisms to execute digital tasks efficiently, creating a more dynamic and adaptable system.
