- Binance introduces the EigenLayer (EIGEN) coin with new trading pairs.
- EIGEN/BTC, EIGEN/USDT, and more pairs are set to launch on October 1, 2024.
Binance, one of the world’s largest cryptocurrency exchanges, has officially announced the listing of the EigenLayer (EIGEN) coin. Starting on October 1, 2024, at 08:00 UTC, users will be able to trade EIGEN on the platform with several new spot trading pairs. The addition of EIGEN to Binance’s portfolio will open the cryptocurrency to a much broader audience, expanding its reach significantly.
New Trading Pairs and Listing Details
The introduction of the EigenLayer coin comes with four trading pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY. While TRY represents the Turkish lira, it is crucial to note that it functions as fiat currency rather than another cryptocurrency. This pair is particularly significant for Turkish investors who can now trade EIGEN directly with their local currency.
No listing fee will be applied for EIGEN trading, which makes it more accessible for users interested in adding this altcoin to their portfolios. Binance has also provided the smart contract address for the EIGEN coin, based on the ERC-20 standard: 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83.
Users can start depositing EIGEN coins immediately in preparation for trading. Withdrawals, however, will be enabled starting October 2, 2024, at 08:00 UTC. Although this date and time are preliminary, Binance will allow users to monitor withdrawal statuses via its dedicated withdrawal page. Additionally, advanced trading features like trading bots and spot copy trading will become available within 24 hours after the official listing goes live.
What is EigenLayer?
EigenLayer is an innovative protocol built on the Ethereum blockchain that introduces a new mechanism called “restaking.” This method enhances Ethereum’s security framework by allowing ETH to be reused within the consensus layer. By enabling the redeployment of ETH, EigenLayer makes the Ethereum network more secure and efficient. Essentially, it optimizes the utilization of Ethereum coins, permitting users to maximize their crypto assets for other operations while maintaining a secure network structure.
This listing on Binance provides users with more options for investment and trading, which is particularly important for the Turkish market. The availability of the EIGEN/TRY trading pair highlights Binance’s focus on regional expansion and catering to specific local markets.