Currently, the pledged amount of EIGEN is higher than the circulating amount, because investors' "locked-up" tokens can be pledged

On October 7th, overseas KOL Ignas posted data on X stating that the number of EIGEN currently in the staking state is larger than the number of EIGEN in circulation - the staking amount is 242 million, and the circulation amount is 186 million (CMC and Coingecko data). This is because EigenLayer allows investors in a "locked" state to stake their tokens.

Ignas added that this is a common problem in the industry, and TIA seems to have a similar problem. It dilutes the staking rewards that real users can obtain and limits the appreciation potential of the token, as the lower APY is not enough to attract people to buy these tokens from the market.