The Ethereum-based restaking protocol EigenLayer has launched its native token, EIGEN, which is now actively trading on various exchanges.
Unlike other tokens, EIGEN is positioned as a “Universal Intersubjective Work Token” that addresses challenges related to “universality, isolation, metering, and compensation.”
EIGEN has a total supply of 1.67 billion tokens, with around 186 million currently in circulation, and has been listed on major exchanges like Binance. The token initially surged to $4.44 following its trading debut before dropping slightly to $3.90 as of press time.
At current prices, the token has a fully diluted valuation of $6.5 billion.
EigenLayer is a prominent restaking platform that allows users to lock their ETH to provide security for third-party networks. The platform currently holds over $12 billion in total value locked (TVL), down almost 50% from its $20 billion peak earlier this year, based on DeFillama data.
Whales activity
On-chain data shows large ho
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