the fact that crypto venture funding is down 80% (and yes there will be fewer crypto vc funds) means that it is a great time to deploy capital into the asset class
Mosi
Many crypto VC funds will cease to exist this cycle
On the supply side, LPs used to invest in VC funds because there was no easy way to get exposure to crypto. Now, you can just get exposure to BTC through the ETF and outperform 99%+ of VCs. The demand for illiquid investments is also trending downward, with university endowments and pension funds getting rekt on illiquid investments. Someone found out that VCs have an incentive to mark up their funds as high as possible to collect more management fees, so the only way to sell your interest in a fund is to put it for sale at a big discount. Coincidentally, there are many sellers in private equity and few buyers. VCs are also structurally designed to miss the biggest plays in crypto (like Hyperliquid) and to mostly chase beta, so they don't end up capturing any of the asymmetry crypto has
On the demand side, there's no marginal buyer for most tokens. Retail got smarter and realized most tokens are a scam. Alt season isn't coming to save them
Liquid fund szn?
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Lsb108
🔆 CRYPTO NEWS 🔆
🔸 US Senate passes GENIUS Act, a crypto stablecoin bill; to move on to the House of Representatives; bill establishes a legal framework for stablecoins and issuers.
🔸 PumpFun hires lawyers to fight lawsuit filed by Burwick Law. The X accounts of @pumpdotfun and its founder @a1lon9 have been restored.
🔸 US Fed leaves interest rates unchanged at 4.25% - 4.50%.
🔸 Nobitex (@nobitexmarket) crypto exchange exploited for ~$80M.
🔸 EigenLayer (@eigenlayer) raises $70M in OTC Sale from @a16zcrypto.
🔸 Polygon (@0xPolygon) $POL Co-founder Jordi Baylina & Polygon zkEVM team launch Zisk as an independent initiative; Baylina to remain co-founder & advisor at Polygon.
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Ana Belén
Verifiability will be the core primitive of the AI x Crypto era, and EigenCloud @eigenlayer is not just early, it's necessary.
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EpiK reposted
Mosi
Many crypto VC funds will cease to exist this cycle
On the supply side, LPs used to invest in VC funds because there was no easy way to get exposure to crypto. Now, you can just get exposure to BTC through the ETF and outperform 99%+ of VCs. The demand for illiquid investments is also trending downward, with university endowments and pension funds getting rekt on illiquid investments. Someone found out that VCs have an incentive to mark up their funds as high as possible to collect more management fees, so the only way to sell your interest in a fund is to put it for sale at a big discount. Coincidentally, there are many sellers in private equity and few buyers. VCs are also structurally designed to miss the biggest plays in crypto (like Hyperliquid) and to mostly chase beta, so they don't end up capturing any of the asymmetry crypto has
On the demand side, there's no marginal buyer for most tokens. Retail got smarter and realized most tokens are a scam. Alt season isn't coming to save them
Liquid fund szn?
Sisyphus
7 deals that incinerated $1 billion of LP money:
ZRO: $120m at $3bn FDV in '22, now $2bn (-33%)
TIA: $100m at $3bn FDV in '24, now $1.6bn (-45%)
ZK: $200m at $2.4bn FDV in '22, now $1bn (-60%)
SCR: $50m at $1.8bn FDV in '23, now $250m (-75%)
W: $225m at $2.5bn FDV in '23, now $650m (-75%)
STRK: $100m at $8bn FDV in '22, now $1bn (-90%)
MATIC: $450m at $20bn FDV in '22, now $2bn (-90%)
Hyperliquid
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david phelps
the bull case for ethereum is aave. the bull case for ethereum is uniswap. the bull case for ethereum is eigenlayer, morpho, gte, noise, poster, farcaster, flaunch, clanker, avon, and euphoria.
the bull case for ethereum is not "moneyness."
the bull case for ethereum is apps.
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Eigen price performance in USD
The current price of Eigen is $1.1958. Over the last 24 hours, Eigen has increased by +0.48%. It currently has a circulating supply of 309,329,213 EIGEN and a maximum supply of 1,731,580,591 EIGEN, giving it a fully diluted market cap of $370.85M. At present, Eigen holds the 81 position in market cap rankings. The Eigen/USD price is updated in real-time.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
EIGEN is a universal intersubjective work token within the EigenLayer protocol. It's called an "intersubjective" token because it's designed to address intersubjective faults in a network. These are faults where there's consistent agreement among the majority of network participants that a malicious act has been committed. As a result, EIGEN helps to secure the network by discouraging inconsistent behaviors.
The EigenLayer protocol allows stakers of ETH, the native token of the Ethereum network, to extend the network's security to other applications across the EigenLayer network through a novel concept known as restaking. Here, ETH stakers can restake their tokens to secure other protocols built on EigenLayer, without the need to build a separate validator set.
How does EIGEN work?
Where ETH is used to secure services or protocols, EIGEN helps to address intersubjective faults that deserve a penalty by introducing intersubjective staking. In this situation, stakers who act outside of the network's rules can be penalized through slashing. Slashing sees individuals lose a quantity of their staked ETH. According to the project, through this approach, the EIGEN token allows the token to be forked without forking the Ethereum mainnet consensus.
EIGEN is also used to secure EigenDA, a data availability layer that supports Ethereum rollups.
Price and tokenomics
Season one of stakedrop claims for the EIGEN token opened on May 10, 2024. Here, 6.05% of the token's total supply of 1.67 billion EIGEN were made available to eligible users. Season one phase two of the stakedrop launched in June 2024, and made a further 0.7% of the total token supply available. According to the project, future seasons will see a further 1.5% of the total EIGEN tokens released.
Alongside the 15% of tokens allocated to stakedrops, 15% will go towards community initiatives, with 15% allocated to ecosystem development. A further 29.5% will be allocated to investors, with 25.5% assigned to early contributors.
All tokens allocated to investors and core contributors will remain fully locked up for one year after the date on which the token first becomes transferrable for the community. After this date, the EIGEN tokens allocated to investors and core contributors will be unlocked at a rate of 4% per month. This means EIGEN held by investors and core contributors won’t be fully unlocked until three years after the date the tokens first become transferable for the community.
About the founders
EigenLayer was founded in 2021 by Sreeram Kannan, a former professor at the University of Washington. Kannan remains as the project's CEO today. EigenLayer is developed by Eigen Labs, a research organization "focused on contributing to protocols that supercharge open innovation on Ethereum", according to the company's official X account.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 1.4K new posts about Eigen, driven by 716 contributors, and total online engagement reached 360K social interactions. The sentiment score for Eigen currently stands at 68%. Compared to all cryptocurrencies, post volume for Eigen currently ranks at --. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Eigen.
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Posts
1,425
Contributors
716
Interactions
359,878
Sentiment
68%
Volume rank
--
X
Posts
1,055
Interactions
151,308
Sentiment
89%
Eigen FAQ
How much is 1 Eigen worth today?
Currently, one Eigen is worth $1.1958. For answers and insight into Eigen's price action, you're in the right place. Explore the latest Eigen charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Eigen, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Eigen have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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