Obchakevich Research Founder: EigenLayer Didn't Live Up to Expectations ❗️
The EigenLayer (EIGEN) blockchain protocol, focused on restaking on the Ethereum network, did not live up to investors' expectations, says Alex Obchakevich, founder of the cryptoanalytics company Obchakevich Research.
The researcher emphasized that EigenLayer attracted a lot of attention in the first days of its existence and received a huge $64.5 million from venture funds. EigenLayer promised "innovations in liquid staking, providing high income for users and reliability for investors," but failed to deliver, Obchakevich emphasized.
He explained that users of the EigenLayer protocol expected significant profits from placing their assets, but in fact the amounts were several times lower than expected, which caused a lot of discontent. For this reason, the transparency of the project was questioned.
Additionally, the community suspected insider trading and market manipulation after EIGEN tokens were sold for a whopping $2 billion after being listed on major crypto exchanges.
