EigenLayer Receives Attention from Whales Post Binance Listing

• EigenLayer’s EIGEN token has drawn much attention from the cryptocurrency community. 
• The token made its debut to the market with an FDV of $7.16 billion.

Uptober remains the talk of the day in the cryptocurrency sector as investors anticipate the historical bull run to occur this year as well. Meanwhile, several firms such as Ripple and Robinhood have announced expansions to new national sectors. Notably, the EigenLayer token was listed on Binance in the early hours of October 1. 

Prominent blockchain protocol EigenLayer has finally launched the much anticipated EIGEN on Monday. As aforementioned, the token was listed on the largest crypto exchange Binance along with other exchanges. Shortly after this, several significant community members sought to buy the token thus assuring it into the spotlight. 

Within the first few hours of trading, EIGEN garnered whales’ attention. According to LookonChain reports, the two whales bought 702,324 tokens worth $2.86 million over the past 6 hours. The whale addresses identified as “0x2dcd” and “0xb112” spent 588 ETH and 1.31 million USDC respectively to buy the tokens. 

Furthermore, prominent crypto trader GCR claimed 253,946 tokens of EigenLayer’s EIGEN airdrop. The tokens worth $1.06 million were obtained through 7 wallets and then deposited in Binance. Additionally, Tron Network founder Justin Sun is believed to have acquired 5.37 million EIGEN tokens. 

EigenLayer’s EIGEN Token Unlock & Price Overview

Eigenlayer has unlocked its EIGEN token with a fully diluted value of $7.16 billion. The blockchain re-staking protocol plans to alter faults encountered within the blockchain which they state holds special features including universality, metering, and compensation. 

The EIGEN token began trading at an initial price of $4.293. Following this, the token rose to a high of $4.304 before sliding downwards. At the time of writing, EIGEN was trading at $3.83 as per CMC data. 

Additionally, EigenLayer distributed 86 million Eigen tokens to Stakeholders on September 17. Moreover, in June the protocol also introduced security measures to prevent attacks. 

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