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After releasing its native token, EIGEN this week, Ethereum restaking protocol EigenLayer is facing criticism over its tokenomics structure. Usually, the weeks and months preceding the launch of a token are met with hype and anticipation.
When the airdrop or launch finally happens, investors’ activities and expectations keep the token’s price high.
EIGEN Token Sees Dip in Key Metrics
There is a gradual drop with time, like in the case of Hamster Kombat’s HMSTR tokens, which were airdropped a few days ago. EIGEN might face a similar sentiment per current ecosystem musing. Depending on investors’ disposition in the short term, eyes are fixed on its key support level at $3.
The EIGEN token initially reached as high as $4.39 in early trading hours on October 1. However, it has seen more than a 17% slip in the past 24 hours. According to current market data, the token has lost 25% since hitting an ATH of $4.25.
EIGEN is now trading at $3.40, with a market cap of $636.8

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