BingX Academy Valuation and Price Prediction of EigenLayer

Valuation and Price Prediction of EigenLayer

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Valuation and Price Prediction of EigenLayer

Empowering Traders 2024-05-02 17:50:58

While EigenLayer is a relatively new protocol, there are several indicators suggesting its potential for significant growth. Firstly, EigenLayer has already garnered significant community interest. Several projects, such as Renzo and ether.fi, have conducted airdrop plans for EigenLayer, a testament to its growing popularity.

 

According to DefiLlama, EigenLayer's TVL has already surpassed a staggering $15 billion (as of July 19, 2024). This substantial value locked within the protocol indicates strong user confidence and potential for further growth. Given the current growth trajectory and the immense potential of the restaking category, EigenLayer has a strong chance of becoming a top 1 or 2 project in this space. This could translate to a valuation exceeding $10 billion, potentially boosting the ETH price itself due to the increased utility of staked ETH. 

 

The current OTC price of EIGEN is around $4.6 (as of Junly 19, 2024), and it once reached a high of $9. Considering that the total supply of EIGEN is more than 1.67 billion, at this price, the FDV of EIGEN has once reached $15 billion, exceeding the valuation mentioned above. However, after reaching the highest point, the price of EIGEN also declined in the OTC market, and the current FDV is around $7.3 billion. Although EIGEN has started airdrops on May 10, 2024, it has not yet been opened for trading on exchanges. Therefore, when the EIGEN token is officially listed on major exchanges, its price will inevitably face selling pressure, and it is expected that the price will fall by 30%-50% from the current level. Only when the selling pressure ends, EIGEN will usher in an upward trend again.

 

BingX will list EigenLayer coin as soon as possible for users to trade. Even users who did not obtain tokens through airdrops can purchase EigenLayer coin through BingX. Investors can decide when to buy based on BingX's estimates of price and valuation, thereby reducing investment risks and optimizing trading strategies. 

 

Disclaimer: Price analysis and valuation are affected by many factors. Theoretical analysis does not mean that the token will definitely reach the envisioned price level. Therefore, the content of this article does not constitute any investment advice. Investors need to do their own research.

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