Binance, the world’s largest cryptocurrency exchange, has announced the listing of EigenLayer (EIGEN) with a seed tag. This move has caught the attention of many traders looking to invest in innovative projects.
Binance to Open Trading for EIGEN
As of October 1, 2024, at 05:00 UTC, Binance will begin trading for EIGEN with the following pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY. Users can already start depositing EIGEN in preparation for trading, and withdrawals will be available from October 2, 2024, at 05:00 UTC.
Binance has applied a seed tag to EIGEN, highlighting the higher risks associated with this relatively new token. Due to its potential for higher volatility, Binance cautioned users to perform their own research (DYOR) and manage risk appropriately before deciding to trade EIGEN.
What is EigenLayer (EIGEN)?
EigenLayer is an innovative protocol built on Ethereum, introducing a new primitive called restaking. This allows the reuse of ETH from the consensus layer, enhancing cryptoeconomic security.
Binance’s Risk Warning
In its announcement, Binance emphasized that EIGEN is a newer token with higher risk and potential price fluctuations. Users are advised to understand the project fully before trading. The seed tag represents innovative projects with higher volatility compared to other listed tokens.
