CandleFocus Fluctuations of the EigenLayer token (EIGEN): everything you need to know
2024-10-02
Author: Content Editor
EigenLayer's EIGEN token recently debuted in the crypto market with a FDV of $6.51 billion, attracting investor attention. The token is defined as a "Universal Intersubjective Work Token" and aims to solve challenges of universality, isolation, measurement, and compensation. The protocol has experienced significant outflows and a decline in TVL in recent months, partly due to stakers leaving after receiving airdrops. Justin Sun, founder of Tron, received an airdrop of over 5.24 million EIGEN tokens and immediately transferred them to the exchange HTX, potentially indicating the intention to sell. Other players like Blockchain Capital and Galaxy Digital also received significant airdrops, and their decisions to sell or hold could influence market dynamics. The Eigen Foundation plans to release more tokens to expand participation in the ecosystem. Analysts are closely watching these developments and how they may impact EigenLayer and the Ethereum ecosystem.
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