The post Fluctuations of the EigenLayer token (EIGEN): from a promising debut to market challenges appeared on BitcoinEthereumNews.com.

The EIGEN token of EigenLayer recently debuted with a fully diluted value (FDV) of 6.51 billion dollars, experiencing a 12% change and attracting the attention of investors. But what is happening now with the token and what are the forecasts? Let’s see all the details in this article.  The unique vision of EigenLayer (EIGEN) for the future of digital tokens As mentioned, the token EIGEN of EigenLayer made its entrance into the crypto market with great promises, initially reaching a value of $4.26 before dropping to $3.77. Listed on important platforms such as Binance and MEXC yesterday, the token attracted the interest of investors with a debut at 3.9 billion dollars and a fully diluted value of 6.51 billion dollars. Unlike traditional governance tokens, EIGEN from EigenLayer is defined as a “Universal Intersubjective Work Token”. That is to say, an innovative approach that aims to solve challenges of universality, isolation, measurement, and compensation.  According to a post on their blog, the token will indeed incorporate social consensus and forking to perform a series of digital operations, distinguishing itself in the landscape of digital tokens. However, despite the initial enthusiasm, EigenLayer has recorded significant outflows in recent months. Specifically, the total value locked (TVL) has dropped from 20 billion dollars in June to about 10 billion dollars currently.  The decline mentioned above was partly caused by some stakers who left their positions after receiving airdrop, affecting the stability of the protocol. Some characteristics of EIGEN Built on Ethereum, the EIgenLayer protocol allows deposits of ether (ETH) and offers its users the possibility to secure additional networks in exchange for extra returns.  This flexibility has been one of the main attractions for investors, even though recent price fluctuations and alternative uses of the token have generated uncertainties in the market. Looking to…

---

Filed under: News - @ October 2, 2024 11:27 am