Major

EigenLayer

Foundation

One of the most heavily-discussed and anticipated token launches of 2024 took place a few hours ago. Of course, we’re talking about EIGEN – the native cryptocurrency behind the most popular Ethereum restaking protocol, EigenLayer.
<h2 id="eigen-debuts-at-7bn-fully-diluted-market-cap">EIGEN Debuts at $7bn Fully-Diluted Market Cap</h2>
In an official announcement, the Eigen Foundation revealed the unlocking event of EIGEN.
<blockquote class="twitter-tweet" data-media-max-width="560">
 1/ We’re thrilled to announce the unlocking of the EIGEN token, a big step for the <a href="https://twitter.com/eigenlayer?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">@eigenlayer</a> ecosystem.
 This opens up new possibilities for open innovation, shared security, and participation across the network.
 More ↓ <a href="https://t.co/HIG33eyV92" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/HIG33eyV92</a>
 — Eigen Foundation (@eigenfoundation) <a href="https://twitter.com/eigenfoundation/status/1840965914486882379?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">October 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The token was immediately listed and made available for trading at leading cryptocurrency exchanges such as Binance, Bybit, OKX, Kraken, and more. It’s also available at the Uniswap v3 decentralized exchange.
At the time of this writing, EIGEN trades above $4, giving it a fully diluted market cap of around $7bn and a current capitalization of around $760 million.
<h2 id="what-does-it-mean-for-eigenlayer">What Does It Mean for EigenLayer?</h2>
The unlock allows developers to start building Actively Validated Services (AVSs) using EIGEN staking. This is important because stakers play an important role in securing the AVSs and diversifying the network’s use cases.
Per the announcement:
<blockquote>
 The unlock of EIGEN marks the beginning of broader engagement. It acts as a catalyst for economic expansion, governance, and protocol development, driving growth and strengthening the decentralized ecosystem.
</blockquote>
To those unfamiliar, EigenLayer has emerged as one of the <a href="https://cryptopotato.com/best-defi-projects/" data-wpel-link="internal" rel="noopener noreferrer nofollow">top DeFi projects</a> in 2024. It’s an Ethereum restaking protocol. Basically, the network acts as a middleware, creating a free and open market where validators and protocols can freely trade pooled securities for a certain price.
It was founded by Sreeram Kannan in early 2021 and has attracted more than $12 billion worth of total value locked, <a href="https://defillama.com/protocol/eigenlayer#information" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">according</a> to DeFiLlama.
<figure id="attachment_363594" aria-describedby="caption-attachment-363594" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-363594" src="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34.png" alt="Screenshot 2024-10-01 at 12.09.34" width="1866" height="475" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34.png 1866w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34-300x76.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34-1024x261.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34-768x195.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34-1536x391.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-01-at-12.09.34-50x13.png 50w" sizes="(max-width: 1866px) 100vw, 1866px"></a>
 <figcaption id="caption-attachment-363594" class="wp-caption-text">
 Source: DeFiLlama
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/eigenlayer-eigen-debuts-on-major-exchanges-details/" rel="noopener noreferrer nofollow">EigenLayer (EIGEN) Debuts on Major Exchanges: Details</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

EigenLayer (EIGEN) Debuts on Major Exchanges: Details

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