EigenLayer token trades on exchanges at $7 billion FDV as transfer restrictions lift

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The Block2024/09/30 16:00

By:The Block

Quick Take EigenLayer lifted transfer restrictions on its EIGEN token, enabling trading on various exchanges. The current trading price is about $4.28, which results in a fully diluted market valuation of $7.1 billion.

EigenLayer officially removed transfer restrictions on its native EIGEN token at midnight EST.

Following this change, holders of the EIGEN token have started moving their assets, including tokens received through airdrops. Additionally, the EIGEN token is now tradable on various exchanges.

The lifting of the restrictions follows the distribution of EIGEN tokens during EigenLayer’s two stakedrops out of an initial supply of 1.67 billion tokens. According to Kairos Research , the total circulating supply is expected to be roughly 200 million.

These tokens support a crypto-economic security system known as inter-subjective forking. The token currently trades at around $4.28, giving EigenLayer a fully diluted valuation of $7.1 billion, according to CoinGecko .

EigenLayer allows users to stake Ether to secure third-party networks or actively validated services. The platform's total value locked is over $12 billion, down from its $20 billion peak in June of this year.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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