Binance has officially announced the listing of EigenLayer (EIGEN) coin, introducing it to a broader market through the exchange platform. This move enables users to engage in trading with the EIGEN coin starting from October 1, 2024, at 08:00 UTC. By listing on Binance, EigenLayer is expected to gain increased visibility and accessibility among cryptocurrency enthusiasts.
Which Trading Pairs Are Available?
In conjunction with the listing, Binance will unveil four new trading pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY. It’s crucial to highlight that TRY is strictly a fiat currency and not linked to any other cryptocurrency. The absence of a listing fee for EIGEN transactions is an added incentive for traders.
The ERC-20 smart contract for the EIGEN coin is identified as 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83. This information is essential for users looking to deposit EIGEN coins, which can be done immediately. Meanwhile, withdrawals are scheduled to commence on October 2, 2024, at 08:00 UTC, though users should verify the status on Binance’s withdrawal platform, as schedules might change.
How Does EigenLayer Function?
EigenLayer operates as a protocol on the Ethereum blockchain, offering a novel approach to economic security via its “restaking” method. This approach allows Ethereum to be reused within the consensus layer, optimizing the security framework and permitting ETH coins to be utilized in multiple transactions.
As part of Binance’s offering, investors are provided wider opportunities, especially with the introduction of trading pairs like EIGEN/TRY. This presents an attractive prospect for Turkish investors seeking to diversify their portfolios. Furthermore, trading bots and spot copy trading functionalities will become operational within a day of the listing.
Concrete outcomes anticipated from this development include:
- Increased adoption and liquidity for the EIGEN coin.
- Expansion of trading options in the crypto market.
- Greater engagement from the Turkish investor community due to TRY trading pairs.
The recent listing of EigenLayer on Binance marks a significant step in broadening its market reach and enhancing user access to trading opportunities. This development is poised to not only benefit EigenLayer but also the wider cryptocurrency trading community by offering more diverse investment avenues. Users are encouraged to stay informed on any potential changes to trading schedules and avail the new trading options effectively.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/binance-lists-eigenlayer-coin-for-trading