Coinbase has added EigenLayer to its listing schedule, a development that has been widely welcomed by crypto enthusiasts. This coincides with EigenLayer’s second airdrop round, “stakedrop,” which was launched on September 16, 2024. The airdrop is the final stage before EIGEN tokens are listed on exchanges, raising market expectations.

The addition of EigenLayer (EIGEN) to the Coinbase roadmap aligns with the exchange’s goal of increasing the number of assets it offers for traders and investors. The adoption of EIGEN allows the crypto exchange to expand its portfolio of Ethereum-based assets.

Market Expectations and Price Increase

Coinbase has updated its new asset addition process to a “roadmap.” This update aims to help investors learn more about new listing schedules. In the past, assets like Zetachain (ZETA) and Gravity (G) have seen price increases after being added to the roadmap. Similarly, EIGEN is expected to see a price increase.

Coinbase announced that it will not enable transfers and trading until EIGEN’s listing is complete and warned investors not to deposit these tokens too early. Coinbase also added an “Experimental” label to the new assets, indicating that the newly introduced assets carry higher risk and volatility.

EigenLayer Season Two Stakedrop

At the same time, EigenLayer’s second season airdrop, or “stakedrop,” is underway. Participants will be able to claim tokens from September 16, 2024 to March 16, 2025. The airdrop has sparked mixed reactions in the crypto community, as only 15% of EIGEN’s total supply was distributed. However, EigenLayer holds a prominent position in the DeFi space with a Total Value Locked (TVL) of $11.9 billion, following Lido and Aave.

Crypto researcher Ignas predicts that EIGEN will reach a market cap of around $600 million when it starts trading. Around 87 million tokens will be distributed during the second airdrop period, which will account for 5.2% of the total supply. While EIGEN’s pre-market price is trending downward, analysts are watching closely to see if Coinbase’s listing will trigger a price increase for EIGEN.