đ¨ $EIGEN Token Drops 12% After Launch â Alarming Slide in Value! đ¨
The much-anticipated launch of EigenLayer's EIGEN token saw an initial surge, but the excitement quickly turned sour as the token dropped 12% from its peak. After debuting with a fully diluted valuation (FDV) of $6.51 billion, EIGEN briefly climbed to $4.26, only to tumble back to $3.77, leaving investors on edge. đ
â ď¸ Urgent Warning: Despite being listed on major exchanges like Binance and MEXC on October 1st, the token's value has been volatile, raising concerns among traders. With a total supply of 1.68 billion tokens and an initial circulating supply of 185 million (including 86 million airdropped to early users), the market reaction has been mixed.
The Total Value Locked (TVL) on EigenLayer has plummeted by 50% since June, dropping from $20 billion to $10 billion. This sharp decline is largely due to stakers withdrawing after receiving their airdrop rewards, highlighting the protocol's recent struggles to retain capital.
EigenLayerâs "Universal Intersubjective Work Token" aims to address challenges in universality, isolation, and compensation. However, the protocol's shift in focus and the ongoing exodus of stakers pose critical questions about the sustainability of its growth.
đ¨ Attention Investors: This drop signals a potential period of increased volatility for the EIGEN token, so stay cautious. Keep an eye on further market developments as the tokenâs performance stabilizes or faces more downward pressure. Stay alert and protect your positions! â ď¸
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