Since its launch on October 1, the price of EigenLayer’s EIGEN has been experiencing a upward trend. This increase is attributed to various activities within the EigenLayer ecosystem that have provided substantial liquidity at key price levels.
Crypto analyst Michaël van de Poppe remarked on the potential of EIGEN, indicating that EIGEN has successfully captured liquidity, which has initiated a positive price movement. He suggested that this upward momentum has invigorated the entire ecosystem, signaling strong investor interest.
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He also anticipated that EIGEN price might briefly dip to around $4.25, providing a potential entry point for new investors, before further climbing to over $5.
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Upcoming Incentive Program
The EigenLayer team has announced an upcoming incentive program, which is likely to enhance investor interest and participation. This has also increased the excitment within the ecosystem.
On October 4, EigenLayer tweeted, “The initial claim date for Programmatic Incentives v1 is now October 15, 2024. An important update from the @EigenFoundation on Programmatic Incentives v1. This change ensures rewards are accurately distributed to qualifying non-investor stakers and eligible operators.”
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Introduction of EigenExplorer Dashboard
Additionally, earlier today, EigenExplorer introduced the EigenExplorer Dashboard, enhancing the user experience with a restaking marketplace. Users will be able to explore real-time APY for AVS, operators, and restaking assets.
These developments collectively contribute to the growing interest and investment in EIGEN, driving its price upwards in the crypto market.
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