EigenLayer's native token, EIGEN, is set to unlock on October 1 at 5:00 am UTC. Following the unlock, it will begin trading on major exchanges. This moment is anticipated to have a major impact on EigenLayer's price dynamics.

Key Takeaways

1. EIGEN Token Unlock on October 1: EigenLayer’s native token, EIGEN, will become transferable, with trading set to begin on major exchanges.
2. Futures Markets Hint at $4 Start: Futures markets predict a $4 opening price, with potential volatility due to airdrop farmers but long-term demand likely to push prices higher.
3. EigenLayer’s Expanding Ecosystem: With over 60 protocols building on EigenLayer, its ecosystem is growing, driving more utility and value for the EIGEN token.

Futures Suggest a Promising Start

Though EIGEN hasn't been transferable since its May launch, futures markets on platforms like Aevo and Hyperliquid indicate a starting price of about $4 per token. Traders are closely watching these movements as an indicator of the token's performance after the unlock.

Initial Sell-Off vs. Long-Term Demand

Some concerns arise regarding a potential sell-off by airdrop participants, but market experts believe this may create buying opportunities. According to Aylo, founder of Alpha Please, traders will likely capitalize on cheaper EIGEN prices as the cycle continues.

Market Valuation and Circulating Supply

With a circulating supply of 200 million tokens and a total supply of 1.67 billion, EIGEN's fully diluted valuation (FDV) is set to exceed $6.7 billion. This impressive number reflects the platform’s significant role in Ethereum restaking and the wider DeFi space.

Read More: How to Join EigenLayer Airdrop Season 2: Everything You Need to Know

EigenLayer’s Utility and Expanding Ecosystem

EigenLayer allows restakers to deposit tokens like EIGEN as collateral to secure other networks. This creates utility for the token, and more protocols are using it for their security needs, including networks like Arpa and EigenDA. Restakers earn rewards in both EIGEN and Ether.

Growing Ecosystem Supports Price Growth

EigenLayer’s ecosystem has expanded rapidly, with over 60 AVS (Actively Validated Services) building on the protocol. As this network grows, demand for EIGEN is expected to rise, reinforcing its long-term value. Market insiders believe EigenLayer could become the “AWS of decentralized services.”

Read More: EIGEN's Token Unlock is Scheduled Today! What Does This Mean for EigenLayer?

FAQ

Q1: When will the EIGEN token be unlocked?

A1: The EIGEN token unlocks on October 1 at 5:00 am UTC.

Q2: What is the predicted price for EIGEN?

A2: Futures markets suggest a starting price of around $4 per token.

Q3: How is EigenLayer’s ecosystem expanding?

A3: Over 60 protocols are building on EigenLayer, increasing the utility and demand for EIGEN.

Conclusion

As the token unlock approaches, all eyes are on the EigenLayer current price. Market data from futures markets and OTC trades hint at a strong start, but the dynamics of airdrop selling and protocol growth will determine the price's trajectory in the coming days. For now, the EigenLayer community and investors are preparing for what could be a significant moment in the protocol’s journey.

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