The Ethereum restaking protocol EigenLayer is on the verge of a pivotal moment — the long-awaited unlock of its native token, EIGEN, is just hours away. Scheduled for 5:00 AM UTC on October 1, 2025, this event marks a major milestone in the DeFi ecosystem, with derivatives markets already pricing in bullish sentiment.
Since its inception in May 2025, EIGEN has remained non-transferable, yet anticipation has built steadily through informal trading channels and perpetual futures markets. Now, as the unlock draws near, centralized exchanges like Binance and Bitfinex are preparing to list the token, signaling strong institutional and retail interest.
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Perpetual Futures Signal Strong Demand
Despite no official trading availability, perpetual contracts (perps) for EIGEN on decentralized exchanges such as Aevo and Hyperliquid have become key indicators of market sentiment. Data from these platforms shows EIGEN perps trading around **$4 per token**, nearly doubling from September lows near $2.
This upward trajectory reflects growing confidence among traders and investors. The combined 24-hour trading volume across Aevo and Hyperliquid sits at approximately $1 million, suggesting active but still limited market depth. While not fully representative of broader demand, these figures align with over-the-counter (OTC) transaction trends.
According to an industry insider familiar with OTC flows, EIGEN’s private market value rose from around $2 in August** to nearly **$3.50 by September 24, further validating the momentum seen in derivatives. Notably, shortly after the initial airdrop in May, early OTC deals briefly valued EIGEN as high as $10 per token, highlighting speculative intensity during the project’s earliest phases.
Tokenomics and Valuation Outlook
With a total supply of 1.67 billion EIGEN tokens, the fully diluted valuation (FDV) at a $4 price point reaches approximately **$6.8 billion. Of this, about 200 million tokens** will be immediately circulating post-unlock, creating a substantial yet controlled initial float.
This distribution model aims to balance early participant rewards with long-term stability. The unlock enables token holders to trade, stake, or participate in governance — unlocking new utility across EigenLayer’s expanding ecosystem.
EigenLayer operates on the concept of restaking, where users re-stake already-secured assets — such as ETH — to provide security for additional blockchain applications known as Actively Validated Services (AVS). This innovation amplifies capital efficiency and strengthens network security across multiple layers.
Growing Ecosystem and Real-World Utility
As of September 30, EigenLayer held close to $12 billion in Total Value Locked (TVL), according to DefiLlama, cementing its status as one of the most influential protocols in decentralized finance.
The launch of EigenDA, EigenLayer’s data availability layer, marked a turning point in tangible utility. In August 2025, EigenDA began rewarding restakers with both Ether (ETH) and EIGEN tokens, creating dual-income incentives that boost participation.
Other AVS projects, including Arpa Network, are following suit by integrating similar reward mechanisms. With over 60 AVS projects reportedly in development on EigenLayer — as noted by Aylo, founder of Alpha Please — the platform is rapidly evolving into what some describe as the "AWS for decentralized services."
“I think the ‘AWS for decentralized services’ will be valued higher than what the market currently anticipates,” said Aylo in a September 30 post on X.
This analogy underscores EigenLayer’s ambition: to become the foundational infrastructure layer that powers secure, scalable, and interoperable Web3 applications.
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Market Dynamics Post-Unlock
While optimism prevails, challenges remain. A common concern is whether early recipients — often referred to as “airdrop farmers” — will sell immediately upon unlock, potentially causing short-term price pressure.
Aylo acknowledges this possibility:
“The most likely scenario is that airdrop farmers sell, putting slight downward pressure on price. But I believe there will be strong buying interest at lower price points throughout the rest of the cycle.”
Such dynamics are typical in major crypto launches, where initial volatility gives way to stabilization as genuine use cases drive demand. Given EigenLayer’s robust TVL and growing suite of AVS integrations, long-term holders may view any dip as a strategic entry opportunity.
Additionally, the ability to earn yield through restaking — now enhanced by native token incentives — adds fundamental support to EIGEN’s value proposition.
Frequently Asked Questions (FAQ)
When will the EIGEN token unlock?
The EIGEN token is set to unlock at 5:00 AM UTC on October 1, 2025. Trading is expected to begin shortly afterward on major centralized exchanges like Binance and Bitfinex.
What is EigenLayer’s restaking mechanism?
Restaking allows users to reuse staked assets (like ETH) as collateral to secure additional blockchain applications called Actively Validated Services (AVS). This increases capital efficiency and expands security across networks.
What is the fully diluted valuation (FDV) of EIGEN?
At a market price of $4 per token and a total supply of 1.67 billion, EIGEN’s FDV stands at approximately **$6.8 billion**.
How many EIGEN tokens are circulating?
Around 200 million EIGEN tokens will be available immediately after the unlock, representing roughly 12% of the total supply.
What factors support EIGEN’s long-term value?
Key drivers include EigenLayer’s $12B+ TVL, the launch of EigenDA with dual rewards (ETH + EIGEN), and over 60 AVS projects in development — reinforcing its role as critical Web3 infrastructure.
Could selling pressure affect EIGEN’s price post-unlock?
Yes, some short-term selling from airdrop recipients is expected. However, strong ecosystem fundamentals and growing demand for restaking services may absorb this pressure over time.
Final Outlook: A New Chapter for Decentralized Security
The EIGEN token unlock represents more than just a liquidity event — it's a catalyst for broader adoption of restaking technology. As EigenLayer transitions from a pre-token protocol to a fully functional, community-governed network, its influence on Web3 architecture is likely to grow exponentially.
With derivatives pricing in optimism, real-world applications gaining traction, and a thriving developer ecosystem, EigenLayer is well-positioned to lead the next wave of innovation in decentralized infrastructure.
Whether EIGEN sustains its early momentum will depend on continued protocol adoption, effective governance participation, and the success of emerging AVS projects built on its foundation.
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