As a seasoned crypto investor with a knack for spotting promising projects and a healthy dose of patience, I find myself intrigued by EigenLayer’s current situation. The recent bounce back from its record low is a positive sign, but it’s important to remember that we are still 30% below the all-time high. The thin volumes in pre-market futures can be misleading, as they often don’t predict the future price action once the airdrop occurs.
EigenLayer’s pre-market futures have bounced back after falling to a record low of $2.17 last week.
On September 7th, EigenLayer (EIGEN) hit a low of around $2.03, but it surged to reach an intraday peak of $2.73 – a rise of over 25%. Despite this increase, the coin is still approximately 30% lower than its record high.
On OKX, traders can engage in pre-market futures trading for tokens that haven’t been distributed yet via airdrops. Due to relatively low trade volumes, these futures can be quite volatile, and the patterns they exhibit usually don’t accurately forecast what will transpire when the actual airdrop takes place.
After the EigenLayer Foundation disclosed information about the commencement of the second phase of its stakedrop program starting from September 17, it was followed by a surge, marking a comeback. Previously, the first round of the airdrop concluded on September 7.
During this upcoming season, a total of 70 million EIGEN tokens are set aside for stakers and operators. Out of these, up to 10 million tokens are earmarked for ecosystem partners. Approximately six million tokens will be distributed among the community, which encompasses open-source contributors and early supporters. The remaining tokens will be assigned to Protocol Guild.
1/ We’re thrilled to unveil the Stakedrop for EIGEN Season 2, a lead-up event for the unlock!
Season 2 aims to acknowledge and reward significant contributors and participants within our ecosystem:
☑️ Stakers & Operators
☑️ Partners from the Ecosystem
☑️ Community MembersThe submission period begins on or before September 17, 2024.
Find out more…
— Eigen Foundation (@eigenfoundation) September 4, 2024
EigenLayer, a significant figure in the cryptocurrency sector, now provides staking services. According to statistics from DeFi Llama, it has climbed up to be the second largest entity in the DeFi industry, boasting more than 10.9 billion dollars worth of assets securely locked within its system.
Restaking, or the process of using Ethereum (ETH) staked tokens across various other platforms, is a cutting-edge technology. Beyond EigenLayer, prominent liquid staking options within the cryptocurrency sector also encompass Symbiotic, Puffer Finance, and Renzo.
The cost of EigenLayer during its airdrop is yet to be revealed, but analysts anticipate it could be one of the largest launches this year. A survey on Polymarket with a total value of $1.9 million suggests that EigenLayer’s fully diluted market capitalization will likely be under $10 billion.
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2024-09-10 18:52