EigenLayer Research Hub | EIGEN information, history and analysis

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.

EigenLayer’s slashing testnet officially launched on December 20, 2024. This launch anticipates the approval of EigenLayer Improvement Protocol-002, which is pivotal for the upcoming mainnet deployment.

With a total value locked of approximately 15.4 billion USD, EigenLayer presents a Unique Stake Allocation feature. This allows validators to minimize slashing risks by linking parts of their stakes to specific Actively Validated Services (AVS).

Infura and RedStone are now integrated as Actively Validated Services within EigenLayer. This collaboration is expected to enhance security and functionality while improving restaking rewards starting January 2025.

EIGEN Foundation has funded 1 million EIGEN tokens for AltLayer, distributing half to reALT holders between 9 May and 12 December 2024 and the remaining half in 2025 during the EigenLayer v2 launch.

The airdrop program excludes users from sanctioned regions like the United States and China, ensuring compliance with international regulations. AltLayer’s growth, with a total restaked asset value of 23.67 billion USD, strengthens EigenLayer’s position in the blockchain sector.

EIGEN Foundation’s significant pledge: The EIGEN Foundation announced a commitment of 1% or 16.8 million EIGEN tokens to Protocol Guild, which translates to about 82.6 million USD. This contribution promotes the sustainability of Ethereum and ensures funding for its essential developers.

Impact on Ethereum’s developer landscape: Despite the financial support, Ethereum faces challenges as developer activity declines, with Solana attracting more new developers. EIGEN Layer is gaining traction, showing a remarkable 167% increase in developer participation, highlighting an evolving competitive environment.

EIGEN Foundation’s funding commitment: The EIGEN Foundation is pledging 1% of the entire EIGEN token supply to the Ethereum Protocol Guild. This initiative supports a collaborative body of 180 members focused on maintaining Ethereum’s layer-1 blockchain.

EigenLayer’s significant role: EigenLayer operates a restaking protocol on Ethereum, facilitating multifunctional staking for Staked Ether and other assets. Currently, it manages around 18.2 billion USD of the 26.9 billion USD total locked across restaking protocols.

Market position and challenges: Although the EIGEN token peaked in October 2023, it has fallen from the top 100 cryptocurrencies to rank 108. Unique financial products like Wrapped Bitcoin offerings are now enhancing its competitive edge.

9 million USD EIGEN withdrawal: A dormant wallet has withdrawn over 9 million USD in EIGEN tokens from Binance after being inactive for two years. The transaction included 2 million EIGEN tokens, valued around 9.03 million USD, alarming the crypto community about potential upcoming market movements.

Market reaction to wallet activity: This unusual activity from the wallet, which previously only withdrew 8.89 SSV, is drawing attention. Analysts are pondering if this signifies potential market manipulation or genuine institutional interest, highlighting the importance of tracking significant transactions to understand their impact on market dynamics.

Whale triggers interest: A whale bought $7.25 million in EIGEN, drawing attention and speculation about a possible price rally. Despite this, EIGEN has faced volatility, dropping 8.69% from its all-time HIGH of $5.06. Currently, 99% of investors remain in profit, maintaining interest.

Market sentiment varies: Though 79% of CoinMarketCap voters expect a price rise, Justin Sun sold 322,119 EIGEN tokens, causing market anxiety. EIGEN remains in an upward channel, suggesting bullish potential, yet risks loom if prices fall below $4.02, complicating future outlooks.

EigenLayer, Ethereum’s largest restaking protocol, is upgrading its rewards program to grant more flexibility to protocols and restakers.

The changes let third-party protocols using EigenLayer — dubbed actively validated services (AVSs) — distribute rewards to validators based on performance.

They also let validators, or “operators,” set fee rates independently. EigenLayer said the upgrades will launch on the mainnet in January.