Hold onto your hats, crypto enthusiasts! The much-buzzed-about EigenLayer has just unleashed its native token, EIGEN, onto the wild world of major exchanges, and it's making waves with a jaw-dropping $7 billion fully diluted valuation (FDV).
In what could be the most talked-about token launch of 2024, EIGEN is now out and about, thanks to the Eigen Foundation's big reveal. The debut was nothing short of a spectacle, and the excitement is palpable.
“We're thrilled to announce the unlocking of the EIGEN token, a big step for the EigenLayer ecosystem,” the Eigen Foundation tweeted. This isn't just any token launch; it's a cosmic leap for open innovation, shared security, and network participation.
Crypto giants like Binance, Bybit, OKX, and Kraken quickly jumped on the bandwagon, listing EIGEN for trading. Even Uniswap v3 got in on the action. At the time of writing, EIGEN is trading above $4, flaunting a dazzling $7 billion market cap and a current capitalization of about $760 million.
But wait, there's more! This unlock isn't just about trading; it's a golden ticket for developers. They can now start building Actively Validated Services (AVSs) using EIGEN staking. Stakers are the unsung heroes here, securing AVSs and expanding the network's versatility.
The Eigen Foundation added, “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.”
For those who need a quick refresher, EigenLayer has rocketed to the top of the DeFi charts in 2024. It's an Ethereum restaking protocol that serves as a middleware, creating a free and open market where validators and protocols trade pooled securities. Launched by Sreeram Kannan in early 2021, EigenLayer has already amassed over $12 billion in total value locked, according to DeFiLlama.
So, whether you're a DeFi aficionado or just love a good token launch story, keep an eye on EIGEN. This rocket ship is just getting started!
