EIGEN Token Launches with $7.16 Billion Valuation
The EigenLayer protocol has launched its native token, EIGEN, now trading with a fully diluted valuation of $7.16 billion. Debuting on October 1, EIGENâs price quickly rose by over 13% to $4.26, and it's available on major exchanges like Binance and MEXC.
What makes EIGEN unique? It's a "Universal Intersubjective Work Token" designed to address key challenges across different networks, using social consensus and forking. Despite its launch excitement, EigenLayerâs Total Value Locked (TVL) dropped from $20 billion to $10 billion as stakers exited after an airdrop.
Built on Ethereum, EigenLayer allows users to deposit ETH and earn yield by securing additional networks, offering a new way for stakers to generate returns.
