CandleFocus EigenLayer Token Unlock Hits Snag: Price Dips and Security Concerns
2024-10-08
Author: Content Editor
EigenLayer's token unlock last week resulted in disputes and price fluctuations, causing concern among investors. The token's price dropped from its initial launch price of $4 to around $3.30 by the end of the week. On Friday, there was a questionable transfer of $5.5 million worth of EIGEN tokens, leading to concerns about the token lockup schedule. EigenLayer clarified that this was a security breach, but investor sentiment was still negatively affected. Despite these setbacks, the project has shown long-term potential, with the number of active operators on the EigenLayer network increasing. The token is currently trading at $3.49, showing some stabilization after a period of volatility. Investors are now waiting for the next cliff unlock scheduled for the following week.
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