Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Eigenlayer (EIGEN) Goes Live at $6,562,768,429 Fully Diluted Valuation As Coinbase Adds Support

Eigenlayer (EIGEN) Goes Live at $6,562,768,429 Fully Diluted Valuation As Coinbase Adds Support

Daily HodlDaily Hodl2024/09/30 16:00
By:by Daniell Marlow

A brand new Ethereum ( ETH )-based “restaking” protocol is debuting to a huge valuation after gaining Coinbase support.

According to Coinbase , the top US-based crypto exchange by trading volume listed Eigenlayer ( EIGEN ) yesterday.

“Coinbase will add support for EigenLayer (EIGEN) on the Ethereum network (ERC-20 Token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase in the regions where trading is supported.”

Eigenlayer aims to allow users to reuse their staked ETH or other Liquid Staking Tokens (LSTs) to secure Eigenlayer ecosystem decentralized applications (DApps). The approach attempts to maximize staked asset utility while contributing to the general security of the ETH ecosystem.

Following its launch and the Coinbase announcement, EIGEN leaped from an all-time low of $3.61 to an all-time high of $4.47, a 23.8% increase in just a three hour span.

According to Blockchain reporter Colin Wu, Tron (TRX) blockchain founder Justin Sun transferred a large sum of EIGEN earlier today, greatly increasing the asset’s fully diluted value (FDV).

“Justin Sun’s team has transferred 5.37 million EIGEN to Huobi HTX through six addresses, worth about $21.8 million. Based on the current price of 4.06 USDT, the EIGEN FDV is about $6.8 billion.”

Eigenlayer is trading for $4.02 at time of writing, up 0.1% in the last 24 hours.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney

0

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.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!