Coinbase has announced the addition of EigenLayer (EIGEN) to its listing roadmap, generating excitement among crypto enthusiasts. This news coincides with EigenLayer’s second round of its “stakedrop” airdrop, which commenced on September 16th, 2024. The airdrop marks the final phase before EIGEN tokens become available on exchanges, heightening market anticipation.

Coinbase Adds EigenLayer (EIGEN) To Listing Roadmap

Coinbase’s inclusion of EigenLayer (EIGEN) in its roadmap aligns with the exchange’s strategy to expand its asset offerings. By adopting EIGEN, Coinbase broadens its range of Ethereum-based assets. The Ethereum network (ERC-20) contract address for EigenLayer (EIGEN) is 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83.

This development is part of Coinbase’s updated listing review process, which has transitioned from ‘assets under consideration’ to a ‘roadmap’ section. The change aims to provide investors with more frequent and transparent information about new listing schedules, enabling better-informed decision-making.

Historically, Coinbase’s roadmap announcements have led to price increases for the featured assets. For example, Zetachain (ZETA) saw a 20% gain after its roadmap addition, while Gravity (G) also experienced a price surge. This trend suggests that EIGEN may see similar positive momentum once trading begins, echoing the optimism surrounding Hamster Kombat following Coinbase’s support announcement.

Warnings on Premature Transfers and Trading

Despite the excitement, Coinbase has cautioned users against premature transfers or trading of EIGEN tokens. The exchange will not enable these functions until the listing process is complete. Investors are strongly advised to avoid early deposits, as this could result in a total loss of funds.

This warning underscores the importance of following official announcements and refraining from trading activities until Coinbase gives the official go-ahead.

In addition to the roadmap listing, Coinbase has introduced an “Experimental” label for new assets. This designation typically applies to assets that may carry higher risks and volatility due to their recent market entry. EIGEN is likely to fall into this category once trading commences, potentially offering higher rewards alongside increased risks.

EigenLayer Second Season Stakedrop

Concurrently with the Coinbase announcement, EigenLayer’s second season “stakedrop” is underway. Participants can claim tokens between September 16, 2024, and March 16, 2025. However, the airdrop has received mixed reactions from the crypto community. Some members have expressed disappointment that only 15% of the total EIGEN token supply is being distributed through the airdrop, having expected a larger allocation.

Despite these concerns, EigenLayer remains a significant player in the decentralized finance (DeFi) space, boasting a Total Value Locked (TVL) of $11.9 billion and ranking third behind Lido and Aave.

Crypto researcher Ignas estimates that EIGEN’s market capitalization will be around $600 million when trading begins, with approximately 87 million tokens distributed during the second airdrop season, representing about 5.2% of the total supply. While EIGEN’s pre-market price has been declining, analysts are closely monitoring whether Coinbase’s listing could trigger a price rally similar to previous assets added to the platform’s roadmap.