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EigenLayer Token EIGEN to be Listed on Binance Tomorrow; EIGEN Price Analysis, Token Unlocking, and New Incentives Explored are here in this Article of controverity.
EigenLayer (EigenLayer) has recently announced new initiatives including the second season of EIGEN tokens airdrop and fresh incentives for the EIGEN token. Moreover, the EIGEN token is set to be listed tomorrow on major exchanges including Binance and potentially Coinbase.
Alongside these developments, the unlocking of EIGEN tokens on September 30, 2024, and its impact on the market will be examined, shedding light on the price of EIGEN.
New Initiatives by EigenLayer
EigenLayer has recently disclosed two significant actions regarding EIGEN tokens. The first initiative is the second airdrop season, which is now open for claiming and will continue until March 16, 2025. The second is the Programmatic Incentives V1, set to commence in October, where EIGEN tokens will be rewarded weekly to stakers and operator nodes meeting the criteria. It is expected that approximately 66.95 million EIGEN tokens will be distributed in the first year, equivalent to 4% of the initial supply.
EIGEN Token Unlocking Time
In May 10 of this year, EigenLayer initiated its first airdrop season, but since the program’s inception, the EIGEN token has been in a non-transferable state, maintaining a degree of scarcity for the token.
Some users speculate that EigenLayer’s recent acceleration in activities is in preparation for the “EIGEN token unlocking” event to garner more market attention. While September 30, 2024, has been mentioned as the predicted date for the token’s unlocking, this date is interpreted as the execution time for “new features and further decentralization.” Therefore, it seems that after implementing these features, the EIGEN unlocking will occur on October 1.
EIGEN Price in the Pre-Market
According to DeFillama data, EigenLayer with a total asset value of $10.79 billion ranks third among ecosystem protocols. The protocol supports 16 active validation services (AVS) and is recognized as one of the most innovative protocols in the Ethereum ecosystem.
In the future, approximately 3.1% of EIGEN tokens are earmarked for future airdrop rounds. These tokens are primarily allocated to large users and operator nodes, which may yield lower returns for smaller users. Additionally, the programmatic incentives starting in October provide an opportunity for users to earn income through EIGEN staking. The expected return on these incentives is around 1.6%, remaining attractive for large users inclined towards security and returns.
Furthermore, EIGEN is being traded on pre-market exchanges, currently priced at around $3.9, reaching a total value of $6.6 billion.
Binance Exchange to List EigenLayer Token
Binance Exchange has announced that on October 1, 2024, the EigenLayer token (EIGEN) will be listed, offering new currency pairs for trading. Users can now deposit EIGEN and withdrawals will commence from October 2, 2024. Further details can be found in the image.
- New Trading Pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY
- Listing Fee: 0 BNB
- Eigen Layer Token (ERC20) Smart Contract Address: 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83
- Withdrawal Time: October 2, 2024 (12 Mehr 1403); estimated time.
- Use of Trading Bots: Will be enabled 24 hours after listing.
- Note: TRY is a fiat currency and does not refer to any other digital currency.
According to Aevo market information, influenced by the news of listing on Binance, EIGEN Futures trading saw an 8.46% increase to $4.44 in a short period.
Overall, the future of EIGEN and EigenLayer significantly relies on new features and programmatic incentives. With the EIGEN unlocking approaching, this protocol might attract more attention from the crypto community and assist in onboarding new users.
Considering EigenLayer’s experience and innovations in the Ethereum ecosystem, it is expected that this protocol will continue as a leader in restaking and other related services. With the realization of the protocol’s promises and its economic facilitations, EigenLayer may evolve into an attractive asset for investors and users. These factors necessitate users and investors to closely monitor Eigen’s future trends and capitalize on emerging opportunities for income and investment.