Just Listed, EigenLayer (EIGEN) Price Immediately Records ATH

Bittime - EigenLayer (EIGEN) set an all-time price high (ATH) after removing token transfer restrictions. 

The token leveraged ETH restaking and liquid staking derivatives, reaching a market cap of $730 million and becoming one of the top crypto assets with concentrated distribution. Read more!

EigenLayer (EIGEN) Instantly Scores ATH

As Eigenlayer, a decentralized finance (defi) overhaul protocol, removes token transfer restrictions, new players have entered the crypto world. 

In short, restaking allows ethereum holders to reuse the ETH or liquid staking derivatives (LSD) they stake to improve the security of other decentralized applications. 

Eigenlayer (EIGEN) is the main token that supports this system.

EigenLayer (EIGEN) Price Predictions

EIGEN debuted on the market at $4.10 per token on Tuesday at 7 am, reaching an all-time high (ATH) of $4.47 at 1:30 pm EDT, with a market cap of around $730 million.

Of the more than 10,000 current crypto assets, EIGEN is in 103rd place according to this assessment. Total diluted value reached $6.57 billion with 186,582,000 EIGEN available.

Read Also: EIGEN Price Prediction, follow in HMSTR's footsteps?

Analysis Market EigenLayer (EIGEN)

Data shows that EIGEN is stored at 214,454 addresses, and 1,072,67 transfers were recorded since restrictions were lifted. Currently, the top 100 holders hold 82% of EIGEN's supply, or approximately 1,378,799,406.09 tokens.

The largest EIGEN wallet, Coinbase Prime Custody, has 27.6207% of the total supply, while Gnosis Safe Proxy, the second largest wallet, has 12.6570%.

While Eigenlayer, the third largest wallet, has 5.8450%. at two in the afternoon EDT, EIGEN raised the price of the coin to $4.30.

Conclusion

EigenLayer (EIGEN), a decentralized finance protocol that leverages ETH restaking and staking derivatives, managed to record an all-time high price (ATH) after removing its token transfer restrictions. 

Debuting on the market at $4.10 per token, EIGEN reached an ATH of $4.47, with a market cap of around $730 million, placing it in 103rd place out of more than 10,000 crypto assets in existence.

Data shows EIGEN has a highly concentrated distribution, with the top 100 holders controlling 82% of the total supply, including Coinbase Prime Custody which holds more than a quarter of the total tokens.

EIGEN's rising price and liquidity strengthen its position in the market, driven by increased participation in the EigenLayer protocol.

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