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Information about EigenLayer (EIGEN)
EigenLayer is an Ethereum-based protocol that introduces a restaking mechanism. This allows ETH stakers to reinvest their locked tokens or Liquid Staking Tokens into other protocols, enhancing the overall network security. By doing so, EigenLayer empowers developers to tap into Ethereum's robust security without the overhead of managing their own security infrastructure.
Having secured over $164 million in funding from top-tier investors like A16z, Polychain Capital, and Coinbase Ventures, EigenLayer has seen meteoric growth. With a Total Value Locked (TVL) surging past $12.08 billion in September 2024, a ninefold increase year-to-date, it has solidified its position as the third largest DeFi protocol, trailing only Lido and Aave.
EIGEN is a native coin of the EigenLayer ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
Specifications
News
Filecoin’s price bounced back from 2.26 USD, now at 2.50 USD, with potential to reach 2.99 USD due to the FIP 0097 proposal and improved Ethereum compatibility.
EigenLayer seeks to break the 0.86 USD resistance this week, leveraging the Slashing upgrade that could propel its price to around 1.00 USD if successful.
TRUMP token faces challenges with a token unlock on April 18, risking a drop to 7.14 USD unless the price rebounds beyond 9.11 USD.
On April 17, EigenLayer will start slashing restakers, implementing its complete restaking model. This follows the distribution of EIGEN tokens to incentivize participation, solidifying EigenLayer as a key infrastructure in decentralized applications.
EigenLayer currently supports over 30 actively validated services, focusing on crypto-native applications in DeFi and gaming. As more services are launched, the protocol aims to enhance its functionality and market reach.
EIGEN is currently priced at 1.61 USD, down 9.77% in the last 24 hours. Its price has plummeted from a peak of 4.53 USD to this level, reflecting extreme volatility.
A whale’s recent deposit of 2 million EIGEN (valued at about 3.18 million USD) suggests continued bearish trends. The total loss for the whale has reached 5.89 million USD within two months.
Important resistance levels for EIGEN are set at 2.20 USD, 3.03 USD, and 3.47 USD, while the current support at 1.60 USD could stem further declines. Market sentiment remains bearish.
Starting on February 10, EigenLayer and Cartesi will host an invite-only hackathon to create decentralized applications. This initiative aims to simplify interactions with blockchain technologies, striving for breakthroughs in user-friendly decentralized applications.
Experts believe integrating AI into blockchain could generate groundbreaking applications. EigenLayer’s Nader Dabit emphasized the importance of verifiable AI, stating that maintaining trust will be essential for mass acceptance and innovative potential in the cryptocurrency landscape.
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