OWN Token From Ethereum-Based Residual Staking Protocol EigenLayer Begins Trading Journey

EIGEN, the native token of the Ethereum-based restaking protocol, EigenLayer, has begun its trading journey. The coin made it to the top 100 cryptocurrencies by market cap, reaching a peak of US$4.53 (AU$6.45).

The native token of the Ethereum-based restaking protocol, EigenLayer, has started trading. At press time, EIGEN is trading at $3.99 (AU$5.80), an increase of 7.40% from launch. Its market cap is over US$742M (AU$1.07B).

The native token of the Ethereum-based restaking protocol, EigenLayer, has started trading. At press time, EIGEN is trading at $3.99 (AU$5.80), an increase of 7.40% from launch. Its market cap is over US$742M (AU$1.07B).

The token is now available on major cryptocurrency exchanges, including Binance, Bybit, OKX, Kraken, and decentralised exchanges (DEXs) like Uniswap v3.

The token is now available on major cryptocurrency exchanges, including Binance, Bybit, OKX, Kraken, and decentralised exchanges (DEXs) like Uniswap v3.

According to blockchain analytics platform Arkham Intelligence, Sun got a US$8.75M (AU$12.72M) airdrop from EigenLayer.

According to blockchain analytics platform Arkham Intelligence, Sun got a US$8.75M (AU$12.72M) airdrop from EigenLayer.

Spot On Chain later revealed that Sun had moved all the EIGEN funds to HTX. The transaction took place minutes after EIGEN debuted on all major exchanges.

Spot On Chain later revealed that Sun had moved all the EIGEN funds to HTX. The transaction took place minutes after EIGEN debuted on all major exchanges.

Besides Justin Sun, two more smart traders also deposited 749,960 $EIGEN ($3.11M) to #Binance in the past hour.

Besides Justin Sun, two more smart traders also deposited 749,960 $EIGEN ($3.11M) to #Binance in the past hour.

Sun could be sitting on a profit of over US$22M (AU$31.9M).

Sun could be sitting on a profit of over US$22M (AU$31.9M).

EigenLayer, founded in early 2021, quickly became one of 2024’s top decentralised finance (DeFi) protocols. At first, the idea of restaking was quite complex and confusing for most people in the crypto industry, but the underlying idea was to maximise yield by staking your already staked tokens on multiple other decentralised protocols (dApps) on Ethereum.

EigenLayer, founded in early 2021, quickly became one of 2024’s top decentralised finance (DeFi) protocols. At first, the idea of restaking was quite complex and confusing for most people in the crypto industry, but the underlying idea was to maximise yield by staking your already staked tokens on multiple other decentralised protocols (dApps) on Ethereum.

It was the first Ethereum restaking protocol, and essentially works as middleware, enabling validators and protocols to trade pooled securities in an open market. EigenLayer has raised over US$170M (AU$245.8M) in funding and has attracted dozens of billions of dollars in total value locked (TVL), currently at $11B (AU$15.9B).

It was the first Ethereum restaking protocol, and essentially works as middleware, enabling validators and protocols to trade pooled securities in an open market. EigenLayer has raised over US$170M (AU$245.8M) in funding and has attracted dozens of billions of dollars in total value locked (TVL), currently at $11B (AU$15.9B).