Binance to List EigenLayer Token on Tuesday

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Binance to List EigenLayer Token on Tuesday
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Binance announced this Monday (30) that it intends to list the EIGEN token, from the Ethereum EigenLayer Layer 2 platform. According to the official announcement, the token listing will take place on Tuesday, October 1st. Withdrawals can take place from October 2nd.

With this, Binance is the second major exchange to announce the listing of the token – the first was Coinbase. EigenLayer users received their tokens via airdrop, in one of the most anticipated distributions on the market.

According to Binance, EIGEN trading on the spot market will begin with five pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD and EIGEN/TRY. The announcement clarified that users can now start depositing EIGEN from this Monday.

Simultaneously, Binance revealed that withdrawals for the same will begin the day after trading. Both will be available on the platform from 8am (Brasília time). The exchange stopped charging for the EIGEN listing, reducing costs for the project.

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Official listing of EIGEN on Binance

Additionally, the announcement notified users that the seed tag would be applied to the asset, indicating high risk and volatility. This label is often present on projects that Binance launches.

Interestingly, Coinbase, another top cryptocurrency exchange, previously revealed that it is listing EigenLayer, pouring additional optimism into the asset. Overall, listings from major cryptocurrency exchanges have brought substantial investor attention to the ERC-20 token.

The EigenLayer project was launched in April, around the same time the network distributed the EIGEN token to its most active users. However, users were unable to move their tokens for more than five months.

This blockade finally ended this Monday (30), the date on which the protocol released the transfer of tokens. According to the EigenLayer team, over 100 million EIGEN were locked in stakes awaiting release

Furthermore, it is also worth mentioning that the price of ZK, ZKsync’s token, appreciated after Coinbase announced the listing of the token on its platform. As a result, traders began monitoring EIGEN in the expectation that the same movement would occur with the token.

In September, EigenLayer distributed an additional 86 million EIGEN, representing around 5% of the token’s total supply, to users in the second season of its stakedrop. Demands for this distribution began on September 17th.

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