EIGEN Token Trading Activity Surges Post-Restriction Removal

sevval01/10/20242 Mins read283

Eigen Token Trading Activity Surges Post-Restriction Removal

EIGEN Token Trading Activity: New Trading Opportunities for Investors

EIGEN Token– EigenLayer has officially lifted transfer restrictions on its native EIGEN token, marking a significant milestone for its holders. This change has sparked increased trading activity as users begin to move their assets, including tokens received from airdrops.

Table of Contents

EIGEN Token Now Tradable on Multiple Exchanges

With the removal of transfer restrictions, the EIGEN token is now available for trading on various cryptocurrency exchanges. This development allows holders greater flexibility in managing their assets. 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. This newfound liquidity is expected to enhance market engagement and attract more investors.

As of now, the EIGEN token trades at approximately $4.28, giving EigenLayer a fully diluted valuation of $7.1 billion, as reported by CoinGecko. This valuation underscores the growing interest in the platform and its innovative approach to crypto-economic security.

Circulating Supply and Economic Model

According to Kairos Research, the estimated total circulating supply of EIGEN tokens is roughly 200 million. These tokens play a crucial role in supporting EigenLayer’s unique security system known as inter-subjective forking. This innovative model allows for enhanced security in third-party networks and services, making EigenLayer an attractive option for users looking to stake Ether.

Total Value Locked and Market Trends

EigenLayer has seen a total value locked (TVL) of over $12 billion, a notable decline from its peak of $20 billion in June of this year. This drop reflects broader trends in the cryptocurrency market, where many platforms have experienced fluctuations in TVL amid changing investor sentiment.

In conclusion, the lifting of transfer restrictions on the EIGEN token signals a new phase for EigenLayer, as it aims to leverage its unique staking model to attract more users and investors. With increased trading activity and a solid valuation, EigenLayer is poised to make significant strides in the crypto landscape.

FAQs

What does it mean that EigenLayer has lifted transfer restrictions on the EIGEN token?

Lifting transfer restrictions means that holders of the EIGEN token can now freely transfer, trade, and manage their tokens without limitations. This change allows for increased liquidity and market activity, enabling users to buy and sell the token on various exchanges.

How has the removal of restrictions affected the trading of the EIGEN token?

Since the removal of restrictions, trading activity for the EIGEN token has surged. Holders are moving their assets, including tokens received through airdrops, which contributes to a more active market. The token is currently trading around $4.28, enhancing its market presence.

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.