EIGEN Begins Public Trading
Eigenlayer’s native token, EIGEN, started trading on major exchanges on Monday after transfer restrictions were lifted, quickly drawing attention across the crypto market. Eigenlayer operates as a DeFi restaking protocol, allowing Ethereum users to reuse staked ETH or liquid staking derivatives to help secure other decentralized applications. EIGEN serves as the native token within that ecosystem.
Market data showed EIGEN opened around $4.10 and later climbed to an intraday high of $4.47 by early Tuesday. By 1:30 p.m. EDT on Oct. 1, the token had fallen to $3.90, marking a roughly 12% drop from its peak. The move did not last long, however, as EIGEN recovered to $4.30 by 2 p.m. EDT, underscoring the sharp volatility often seen in newly listed crypto assets.
Market Cap, Supply, and Holder Data
At the time, EIGEN carried an estimated market capitalization of about $730 million, placing it at No. 103 among more than 10,000 crypto assets. Its circulating supply stood at 186,582,000 tokens, while its fully diluted valuation was reported at approximately $6.57 billion. Those figures indicate that EIGEN entered the market as a sizable token rather than a small-cap launch.
Onchain data further showed 214,454 unique addresses holding EIGEN, with 1,072,67 transfers recorded after restrictions were removed. The largest wallet, identified as Coinbase Prime Custody, controlled 27.6207% of total supply. The second-largest address, a Gnosis Safe Proxy, held 12.6570%, while a third Eigenlayer-linked wallet accounted for 5.8450%.
Token Concentration Remains in Focus
Distribution data suggests ownership remains highly concentrated. The top 100 holders collectively controlled 82% of EIGEN’s supply, or about 1,378,799,406.09 tokens. For traders, that concentration could become a key factor in future price swings, especially during the early phase of market discovery when liquidity, unlock schedules, and large-wallet activity tend to shape sentiment.
Overall, EIGEN’s first day in open trading combined strong initial demand with equally visible volatility. The token’s launch brought momentum to the restaking narrative, but the swift pullback also showed that the market is still actively pricing the asset after its exchange debut.