The release of EigenLayer’s native EIGEN token this week caused quite a stir in the cryptocurrency community. As expected, the price of EIGEN skyrocketed shortly after being listed on exchanges, prompting a period of price discovery. However, the excitement was short-lived as the token’s price experienced a steep 22% decline from its initial peak.
While the price volatility was not entirely surprising, what caught many investors and community members off guard was the lack of transparency surrounding the token’s total supply. Questions began to arise about the accuracy of the information provided about EIGEN’s circulating supply, leading to concerns about the token’s long-term viability.
As the controversy continues to unfold, EigenLayer’s team is facing increasing pressure to address these concerns and provide clarity on the token’s supply dynamics. The community is eagerly awaiting a response from the project team to shed light on the situation and restore confidence in the EIGEN token.
