The highly anticipated launch of the EIGEN token from the Ethereum restaking protocol EigenLayer has officially arrived. As of October 1, 2024, the token became transferable, unlocking its availability for spot trading across major cryptocurrency exchanges—including Binance—marking a pivotal milestone in the project’s evolution.
Within hours of going live, EIGEN surged to an intraday high of $4.50**, reflecting strong market enthusiasm. It has since settled around **$3.80, with steady trading volume indicating sustained interest. This moment also marks the beginning of a new phase for EigenLayer’s decentralized governance and ecosystem growth.
👉 Discover how leading crypto platforms are supporting EIGEN’s market debut.
EIGEN Token Now Transferable: A Major Milestone
At approximately 6:00 AM UTC, a critical code update enabled EIGEN token transfers, effectively launching its spot market presence. Prior to this, EIGEN was only available via perpetual futures contracts on platforms like Aevo, limiting access to speculative traders.
Now, holders can freely trade, stake, and participate in governance using actual EIGEN tokens. This transition is crucial for decentralization and long-term network security, as it empowers early contributors and restakers with real ownership.
As of publication, **EIGEN is trading near $3.80**, following initial volatility. The price briefly touched $4.50, closely mirroring pre-market expectations. This suggests that early sentiment was well-priced in during the pre-launch phase.
With this valuation, EigenLayer now boasts a fully diluted valuation (FDV) of $6.2 billion. Currently, about 186 million EIGEN tokens are in circulation, out of a total supply of 1.6 billion. This means less than 12% of the total supply is circulating, leaving significant room for future unlocks and distribution.
Why This Matters for the Restaking Economy
EigenLayer pioneered restaking on Ethereum—a mechanism allowing users to reuse their staked ETH (or liquid staking derivatives like LSTs) to secure additional blockchain applications known as Actively Validated Services (AVSs). With EIGEN now tradable, developers can begin building and launching AVSs secured by EIGEN token staking, expanding the scope of modular blockchain infrastructure.
Moreover, the token launch enables governance participation, where EIGEN holders will eventually vote on protocol upgrades, risk parameters, and treasury allocations.
EIGEN Tokenomics: A Community-First Distribution
One of EigenLayer’s defining features is its commitment to decentralized distribution. Of the total 1.6 billion EIGEN supply:
- 45% is allocated to the community
- 29.5% goes to investors
- 25.5% to early contributors
The community portion breaks down further into:
- 15% for Stakedrops – rewarding users who participated in restaking during early seasons
- 15% for community initiatives – funding developers, contributors, and ecosystem grants
- 15% for R&D and growth – distributed gradually by the Eigen Foundation to support innovation
All allocations for investors, team members, and foundation entities are locked for one year from the token launch date, reducing immediate sell pressure and aligning long-term incentives.
The token also features a 4% annual inflation rate, which can be adjusted through on-chain governance. This inflation will primarily fund ongoing staking rewards for participants securing AVSs, ensuring economic sustainability as the ecosystem scales.
Trading Activity and Market Dynamics
Since going live, Binance has dominated EIGEN trading volume, accounting for nearly 49% of total activity, primarily through the EIGEN/USDT pair. This highlights Binance’s role as a primary liquidity hub for newly launched tokens.
Other major platforms contributing to volume include:
- Uniswap V3 – 8.7%
- Bybit – 7.6%
- OKX – 4.2%
This diversified exchange presence ensures broad accessibility and reduces reliance on any single platform.
👉 See how top exchanges are handling EIGEN’s liquidity surge.
What’s Next? Key Metrics to Monitor
With the token now live, several indicators will shape EigenLayer’s trajectory over the coming months.
1. Total Value Locked (TVL) Trends
EigenLayer’s TVL peaked at over $20 billion in June 2024**, driven by anticipation around the token launch. It currently sits around **$12 billion, reflecting some pullback post-airdrop.
However, the real test lies ahead: will EIGEN’s tradability attract new capital into restaking, or will early participants cash out? A rebound in TVL would signal strong confidence in the protocol’s utility beyond speculation.
2. AVS Development Pipeline
The ability to launch Actively Validated Services is now live. Expect announcements from teams building decentralized sequencers, data availability layers, cross-chain messaging protocols, and more—all secured by EIGEN staking.
Increased AVS adoption directly increases demand for EIGEN staking, creating a flywheel effect between token utility and ecosystem growth.
3. Governance Participation
As governance rolls out, watch for:
- Voter turnout in early proposals
- Distribution of voting power
- Treasury funding decisions
High engagement could solidify EigenLayer’s position as a leader in decentralized infrastructure.
How Does EIGEN Compare to Other 2024 Token Launches?
Many projects that launched tokens in 2024 struggled to maintain price momentum after initial hype faded—examples include Wormhole (W) and Starknet (STRK), both of which saw significant post-launch corrections.
However, some have held up better:
- LayerZero’s ZRO remains close to its all-time high despite market fluctuations
- Protocols with strong fundamentals and continuous development have outperformed speculative launches
EigenLayer’s advantage lies in its proven product-market fit, having attracted billions in TVL even before token distribution. Its technical innovation in restaking gives it a defensible moat in the modular blockchain space.
Frequently Asked Questions (FAQ)
🔹 When did the EIGEN token become tradable?
The EIGEN token became transferable on October 1, 2024, enabling spot trading on major exchanges like Binance, OKX, and Uniswap.
🔹 What is EigenLayer’s fully diluted valuation (FDV)?
At a price of $3.80, EigenLayer’s FDV stands at **$6.2 billion**, based on a total supply of 1.6 billion EIGEN tokens.
🔹 How much of the EIGEN supply is community-owned?
45% of the total supply is allocated to the community through stakedrops, developer incentives, and ecosystem growth programs.
🔹 Is there inflation for the EIGEN token?
Yes, EIGEN has a base inflation rate of 4% per year, adjustable via governance. This funds staking rewards for AVS security providers.
🔹 Can I stake EIGEN now?
While EIGEN is now tradable, staking functionality for AVS validation will roll out progressively as developers launch services on the network.
🔹 Where is EIGEN trading with the most volume?
Binance leads with nearly half of all trading volume, followed by Uniswap V3, Bybit, and OKX.
Final Thoughts: A New Chapter for Modular Security
The launch of the EIGEN token isn’t just another airdrop—it’s a foundational moment for Ethereum’s evolving architecture. By enabling restaking at scale, EigenLayer introduces a new paradigm: shared security across multiple blockchain applications.
While short-term price movements will draw attention, the long-term success of EigenLayer depends on:
- Growth in AVS adoption
- Expansion of secure, decentralized infrastructure
- Active community governance
As more builders leverage EigenLayer’s toolkit, the demand for EIGEN-based validation is expected to grow—potentially transforming it into a core component of Web3’s backbone.
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Whether you're an investor, developer, or observer, EigenLayer represents one of the most consequential developments in blockchain scalability and security in 2025. Watch this space closely—it may redefine how we think about trust and consensus in decentralized systems.