EigenLayer's native token, EIGEN, experienced a 20% price drop shortly after being listed on Binance and other exchanges due to concerns over transparency. The network's developers were criticized for allowing investors to stake their "locked up" tokens, leading to a backlash from the community. Eigen Labs clarified that investors were allowed to stake both EIGEN and non-EIGEN assets, but the controversy resulted in a significant decline in network growth and investor confidence. EIGEN's price also declined by 19% following its listing, and the token's market position may weaken further if transparency concerns are not addressed.
- Content Editor ( beincrypto.com )
- 2024-10-03
EigenLayer (EIGEN) Crashes 20% After Listing – Transparency Criticism Grows