EigenLayer (EIGEN), a prominent blockchain protocol that focuses on restaking within the Ethereum ecosystem, has fallen short of investor expectations
EigenLayer (EIGEN), a blockchain protocol centered around restaking within the Ethereum ecosystem, has failed to meet investor expectations, according to Alex Obchakevich, founder of Ukrainian-Austrian analytics firm Obchakevich Research.
In a recent post, Obchakevich highlights that EigenLayer initially garnered attention and raised $64.5 million from VCs. Promising breakthroughs in liquid staking to provide high returns for users and reliability for investors, the protocol fell short on those commitments.
Users expected significant returns by staking their assets on EigenLayer, but the outcomes were less favorable, sparking dissatisfaction and questioning the project’s transparency.
Moreover, suspicions of insider trading and market manipulation arose after a massive $2 billion in EIGEN tokens were sold following its listing on major crypto exchanges.
On a positive note, Obchakevich praises Bracket, an early-stage protocol in the liquid betting market, for focusing on genuine growth rather than chasing hype or inflating its audience and total value locked (TVL).
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