Cryptocurrency exchange Binance has announced the listing of a new altcoin EigenLayer (EIGEN) and the activation of new trading pairs with it on October 1, 2024.
New Trading Pairs and Details
As part of the listing, Binance will open four new trading pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY. It is essential to note that TRY is merely a fiat currency and does not represent any other cryptocurrency. Furthermore, no listing fee will be charged for transactions involving EIGEN coin. The ERC-20-based smart contract address for this altcoin has also been shared with users as 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83. Deposits for EIGEN coin can be made starting now, while withdrawals will be enabled on October 2, 2024, at 08:00 UTC. However, users should note that this schedule is tentative and can check their withdrawal status on Binance’s withdrawal page. Additionally, trading bots and spot copy trading features will be activated within 24 hours following the coin’s listing.
What is EigenLayer?
EigenLayer is a protocol built on the Ethereum blockchain that introduces a new system for economic security through the principle of “restaking.” This system allows for the reuse of ETH within the consensus layer, making the security layer more efficient, enabling users to reuse their ETH coins in various transactions. With this listing, Binance aims to offer its users more investment and trading options. The option to trade new pairs using TRY can be viewed as a significant step for Turkish investors.
The listing of EigenLayer on Binance provides new opportunities for traders and investors, expanding available trading pairs and enhancing economic security through the innovative restaking protocol.
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