# EIGEN Token Launches at $7B Fully Diluted Value

*Author: David Christopher*
*Published: Oct 1, 2024*
*Source: https://www.bankless.com/eigen-token-launches-at-6-4b-fully-diluted-value*

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After initially launching via "stakedrop" in April, EigenLayer's EIGEN token began trading last night after transfer restrictions were lifted.

## What's the Scoop?  
- **Price and Valuation: **EIGEN initially traded as high as $4.44, though it has dropped to ~[$4.20 this morning](https://coinmarketcap.com/currencies/eigenlayer/), equating to a $7B fully diluted valuation.  
- **Token Distribution: **The token distribution followed two stakedrops, with an estimated circulating supply of 200M tokens.  

## Bankless Take:
At long last, EIGEN has hit the market, marking a new era for restaking. Next will come [**Programmatic Incentives**](https://blog.eigenfoundation.org/unlock-eigen/), distributing EIGEN to the token’s stakers and those who operate and support AVSs: applications that leverage EigenLayer’s security to offer additional decentralized services. Additionally, on the protocol’s roadmap is **Intersubjective Slashing**, which will increase its security overall. EIGEN’s launch has already spurred the release of new products from the broader restaking ecosystem, such as [ezEIGEN from Renzo](https://medium.com/renzo-protocol/ezeigen-streamlining-eigen-restaking-78a9295cf3bf), which is a liquid staked EIGEN compounding rewards from AVSs like EigenDA.

> Today the [@EigenFoundation](https://twitter.com/eigenfoundation?ref_src=twsrc%5Etfw) announced the unlocking of the EIGEN token! This is a major leap forward for the [@eigenlayer](https://twitter.com/eigenlayer?ref_src=twsrc%5Etfw) ecosystem, opening up new avenues for shared security, open innovation, and broader participation.More ↓ [https://t.co/3X8BAsiRmM](https://t.co/3X8BAsiRmM)— EigenLayer (@eigenlayer) [October 1, 2024](https://twitter.com/eigenlayer/status/1840967244408344619?ref_src=twsrc%5Etfw)