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EigenLayer Tokens to Be Released in Coming Hours, Futures Trade at Fully Diluted $6.8B
Binance will list spot trading pairs at 05:00 UTC.
Updated Sep 30, 2024, 3:49 p.m. Published Sep 30, 2024, 3:49 p.m.
- The token is trading at $4.11 on Aevo with a fully diluted value (FDV) of $6.8 billion.
- Early adopters have been earmarked for 5% of the total supply.
- Trading on centralized exchanges will go live at 05:00 UTC Tuesday.
Restaking protocol Eigenlayer will unlock its highly anticipated token, EIGEN, at 9 p.m. PST on Monday (04:00 UTC on Tuesday) and trading is set to start on Binance an hour later.
EigenLayer lets users stake ether , which can be repurposed to secure other networks and secure additional rewards. The total value locked (TVL) on the protocol has dropped by more than 50% since June as a result of increased competition and a wider slump across the restaking sector. It currently has around $10 billion in TVL.
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Total supply of the token will be 1.6 billion, with 86 million allocated to early adopters, who will receive a recently announced airdrop dubbed "stakedrop."
The price, which is likely to be volatile on release, is currently $4.11 according to a market on perpetual exchange Aevo, which has only racked up $191,000 in trading volume over the last 24 hours. It is currently trading at a fully diluted value (FDV) of $6.8 billion.
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