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EigenCloud (prev. EigenLayer)
EIGEN to USDT Converter
1 EIGEN = 0.195296 USDT · updated 06:21 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.EigenCloud (prev. EigenLayer) Markets
EigenCloud (prev. EigenLayer) Historical Data
About EigenCloud (EIGEN)
EigenCloud (EIGEN), previously known as EigenLayer, is a restaking protocol on Ethereum. It lets staked ETH and other assets secure extra services, called Actively Validated Services or AVSs. The project took the EigenCloud name in June 2025. EIGEN is the protocol's token, and this page tracks it with FMchart's composite, a US dollar price averaged across several exchanges. Restaked assets keep securing their original network while also backing these services.
Restaking and AVSs
Restaking means reusing stake that already secures Ethereum to back other services, such as data availability layers or oracles. Operators run the software for these AVSs, and stakers delegate to them. In return, they can earn rewards. AVSs can also require slashable stake, which can be cut if an operator breaks the rules. Eigen's own proposals describe slashable stake as something AVS teams need before they will pay fees. Operators and stakers choose which AVSs to support, so each service must attract its own backing.
What EIGEN was designed for
The Eigen Foundation describes EIGEN as a token for intersubjective faults: misbehavior that cannot be proven on-chain but that any two reasonable observers would agree deserves a penalty. EIGEN was initially non-transferable. The first stakedrop, in 2024, gave 5% of supply to early users based on a March 15, 2024 snapshot. Transfer restrictions were removed later, which started the lock-up clock for early backers.
Supply, unlocks and incentive rates
EIGEN's initial supply was 1,673,646,668 tokens, with no fixed cap. Early contributors and investors had a one-year lock after transfers opened, and from then 4% of their tokens began unlocking each month. Inflation started at 4% a year. ELIP-011, created in September 2025, raised total reward incentives to 7%, based on the supply as of October 9, 2025, with 4/7 going to EIGEN stakers and 3/7 to ETH stakers. The docs say these issuance rules persist unless changed through community governance.
From EigenLayer to EigenCloud
With the EigenCloud rebrand, the team grouped EigenDA, EigenVerify and EigenCompute into one platform for verifiable applications. In the same month, The Block reported that a16z crypto bought $70 million of EIGEN. A later proposal, ELIP-012, set up an Incentives Committee to direct how newly minted EIGEN is distributed. The Protocol Council, not the committee, controls how many tokens are minted.
Dilution, slashing and adoption risk
EIGEN has no maximum supply, and the higher incentive rate adds tokens faster than before. Monthly unlocks for early backers also raise circulating supply. Restakers take on slashing risk across several services at once. EIGEN's value depends on whether AVSs and EigenCloud apps generate real fees, which is uncertain. ELIP-011's increase also shows that EIGEN's supply rules can change through governance.
Last reviewed: Oct 8, 2026
EigenCloud (prev. EigenLayer) (EIGEN) FAQ
What is EigenCloud (EIGEN)?
EigenCloud, formerly EigenLayer, is a restaking protocol on Ethereum that lets staked assets secure additional services called AVSs. EIGEN is its token, designed partly to handle faults that cannot be proven on-chain. The project adopted the EigenCloud name in June 2025.
Why did EigenLayer rebrand to EigenCloud?
In June 2025, the team grouped EigenDA, EigenVerify and EigenCompute under the EigenCloud name as a platform for verifiable applications, building on the restaking protocol. In the same month, The Block reported that a16z crypto bought $70 million worth of EIGEN tokens.
What is restaking?
Restaking lets stake that already secures Ethereum also back other services. Through EigenCloud, stakers delegate to operators who run software for Actively Validated Services, earning extra rewards. If an AVS uses slashable stake, part of that stake can be cut when an operator misbehaves.
What are intersubjective faults?
Intersubjective faults are cases of misbehavior that cannot be proven on-chain, yet any two reasonable observers would agree deserve a penalty. The Eigen Foundation, which announced the token in April 2024, designed EIGEN to handle such faults, and EIGEN was initially non-transferable.
What is EIGEN trading at?
A single EIGEN costs about $0.195 on FMchart's composite, an average of several exchanges in US dollars. That gives the token a market capitalization near $190.3M. Roughly $2.13M of EIGEN was traded over the past day across the exchanges in FMchart's composite.
Does EIGEN have a max supply?
EIGEN has no fixed maximum supply, and about 976,095,461 tokens are circulating. The initial supply was about 1.67 billion EIGEN, excluding later inflationary issuance. New tokens are minted weekly as incentives, at rates set through governance, and early backers' tokens unlock monthly.
What was EIGEN's highest price?
EIGEN's highest recorded price is $5.65, on Dec 16, 2024. The Price Statistics panel shows how far the current price sits from that peak and from the all-time low. EIGEN started out non-transferable, so its trading record is relatively short, and a past peak is no forecast.
How has EIGEN performed since FMchart began tracking it?
In FMchart's composite price history (since October 2024), EIGEN's best month was May 2025 (+45.0%) and its worst was March 2025 (-45.5%). Each month appears under Monthly Returns (USD), and the Quarterly Closing Price (USD) table shows where each quarter ended. The history is short, so one month can weigh heavily.
What is EIGEN's inflation rate?
EIGEN launched with 4% annual inflation on its initial supply. ELIP-011, created in September 2025 and since merged, raised total reward incentives to 7%, with 4/7 going to EIGEN stakers and 3/7 to ETH stakers. ELIP-012 later referred to a full announced rate of 8%, and governance can change the rate again.
When do EIGEN tokens unlock?
Early contributors, investors and Eigen Foundation service providers had their EIGEN locked for one year after the token's transfer restrictions were removed. From that anniversary, 4% of each allocation unlocks, with another 4% each month after that, adding to circulating supply.