Binance has officially announced the listing of EigenLayer (EIGEN) coin, allowing users to start trading from October 1, 2024, at 08:00 UTC.
Which Trading Pairs Are Available?
Along with the listing, Binance will introduce four new trading pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY. It is important to note that TRY is exclusively a fiat currency and not linked to any other cryptocurrency. The absence of a listing fee for EIGEN transactions is an added incentive for traders.
How Does EigenLayer Function?
EigenLayer operates as a protocol on the Ethereum blockchain, offering a novel approach to economic security via its “restaking” method. This approach allows Ethereum to be reused within the consensus layer, optimizing the security framework and permitting ETH coins to be utilized in multiple transactions. The ERC-20 smart contract for the EIGEN coin is identified as 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83. Users can deposit EIGEN coins immediately, while withdrawals are scheduled to commence on October 2, 2024, at 08:00 UTC, though users should verify the status on Binance’s withdrawal platform, as schedules might change.
Expected Outcomes
The recent listing of EigenLayer on Binance is expected to result in increased adoption and liquidity for the EIGEN coin, expansion of trading options in the crypto market, and greater engagement from the Turkish investor community due to TRY trading pairs. With Binance's offerings, investors are provided wider opportunities, particularly with the introduction of EIGEN/TRY pairs, presenting an attractive prospect for Turkish investors seeking to diversify their portfolios.
The recent listing of EigenLayer on Binance marks a significant step in broadening its market reach and enhancing user access to trading opportunities. This development is poised to not only benefit EigenLayer but also the wider cryptocurrency trading community by offering more diverse investment avenues.
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