EigenLayer (EIGEN) has been integrated into Coinbase’s upcoming listing agenda, a move that has garnered enthusiasm from cryptocurrency enthusiasts. This development coincides with EigenLayer’s initiation of the “stakedrop” phase, which commenced on September 16, 2024. The stakedrop marks the final stage before EIGEN tokens hit exchanges, heightening market anticipation.
Incorporating EigenLayer (EIGEN) into its roadmap aligns with Coinbase’s objective to expand the array of assets accessible to traders and investors. By embracing EIGEN, the exchange broadens its selection of Ethereum-based assets available to its clientele. The Ethereum network (ERC-20) contract address for EigenLayer (EIGEN) is 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83.
In a strategic shift, Coinbase has transitioned from the traditional ‘assets under consideration’ approach to a more transparent ‘roadmap’ model. This alteration aims to provide investors with better and more frequent updates regarding upcoming listings so that they can make well-informed decisions.
It is worth noting that, despite the positive reception of the listing announcement, Coinbase has cautioned users against premature transfers and trading of EIGEN until the listing process is finalized. This advisory emphasizes the importance of heeding official announcements and refraining from trading until the green light is given by the exchange.
Moreover, EigenLayer is currently conducting its second “stakedrop,” where participants can claim tokens until March 16, 2025. The limited distribution of only 15% of the total EIGEN token supply during the airdrop has sparked mixed reactions within the crypto community. However, EigenLayer remains a significant player in the decentralized finance (DeFi) sector, boasting a Total Value Locked (TVL) of $11.9 billion, positioning it as the third largest entity behind Lido and Aave.
As the countdown to trading commencement approaches, estimates by crypto researcher Ignas suggest that EIGEN’s market capitalization will reach around $600 million, with approximately 87 million tokens dispersed during the ongoing airdrop phase. While the pre-market pricing trend of EIGEN may have trended downward, market analysts are eagerly awaiting Coinbase’s listing, anticipating a potential price surge akin to past assets introduced on the platform’s roadmap.