Coin overview
EIGEN
Ended--
Last price (USDT)
171.76K
24h total (USDT)
739.77K
Total vol (USDT)
2024-04-30 09:00:00 ~ 2024-10-01 03:30:00
Trading time (UTC+0)
2024-10-01 09:00:00
Delivery time (UTC+0)
Total supply1.68B
Resources
Introduction
EigenLayer is a protocol built on Ethereum that introduces re-staking, allowing users who have staked $ETH to join the EigenLayer smart contract to re-stake their $ETH and extend cryptoeconomic security to other applications on the network. As a platform, EigenLayer, on the one hand, raises assets from LSD asset holders, and on the other hand, uses the raised LSD assets as collateral to provide middleware, side chains, and rollups with AVS (Active verification service) needs. The convenient and low-cost AVS service itself provides demand matching services between LSD providers and AVS demanders, and a specialized pledge service provider is responsible for specific pledge security services. EIGEN total supply: 1.67 billion tokens
Wormhole and Nuffle Labs Collaborate to Expand EigenLayer Restaking Capabilities Beyond the Ethereum Ecosystem
On December 18th, Wormhole is collaborating with Nuffle Labs, the developer of the re-staking protocol, to develop a solution that extends the re-staking functionality of EigenLayer beyond the Ethereum ecosystem. This solution utilizes Wormhole's message passing architecture and Nuffle's NUFF protocol, allowing assets to be re-staked directly from any Layer 1 or Layer 2 blockchain without the need for asset bridging.
Wormhole and Nuffle Labs partner to revamp multichain restaking
Wormhole and restaking provider Nuffle Labs have partnered to bring multichain restaking to users on any chain. Nuffle Labs announced the integration on Dec. 17. Interoperability platform Wormhole and restaking provider Nuffle Labs are partnering to offer a multichain restaking solution that users can tap into to stake from any chain. The Wormhole (W) and Nuffle Labs teams announced the integration via a news release on Dec. 17. With its unveiling, users can stake their tokens on any chain without having to go for cross-chain bridging. Addressing liquidity fragmentation within the multi-chain staking ecosystem, the new solution leverages Wormhole’s message-passing architecture, Nuffle Labs’ NUFF Protocol and EigenLayer’s staking infrastructure. Firat Sertgoz, the co-founder and chief technology officer of Nuffle Labs, noted via X that the collaboration with Wormhole will bring ‘x from anywhere’ restaking to the multi-chain environment. While the current economic layout across layer-1 and 3 ecosystems is still fragmented, having the capacity to natively stake on any chain from anywhere comes to the market via Nuff Protocol. “In today’s world, economic zones (L1s/L2s/Lx) are fragmented and the assets that live in a specific economic zone cannot contribute or benefit from an application in another economic zone,” Sertgoz said. The solution is the first to offer native cross-chain restaking and launches with initial support for Eigenlayer, a restaking protocol on Ethereum that currently boasts a total value locked of over $18.4 billion. Other top restaking protocols by TVL are Babylon, Symbiotic and Karak. Users on the Nuff Protocol can restake tokens from any blockchain on EigenLayer, with the solution tapping into NEAR DA and Nuffle First Finality Layer. NEAR DA provides for data availability while the Nuffle Fast Finality Layer allows for multi-chain messaging. Flow Traders, Securitize, Agora and Infinex are some of the platforms and protocols to recently integrate Wormhole’s technology.
Aligned: Airdrop to major L2 token holders with a threshold of $50
On December 17th, according to the official website, Aligned Foundation will distribute a significant portion of ALIGN tokens to token holders of Mina, EigenLayer, and Ethereum zk L2s, especially those who continued to hold during the market downturn. Registration will end on December 23rd, 2024. The specific eligibility requirements are that the wallet address must hold at least $50 worth of the above tokens at their historical lowest price for the following projects: Mina (MINA), Starknet (STRK), Polygon (POL), EigenLayer (EIGEN), ZKsync (ZK), Scroll (SCROLL), and Taiko (TKO).
Justin Sun invests $37.3M in EIGEN and boosts market activity
Justin Sun has recently made a strategic move by depositing $37.3 million in EIGEN (CRYPTO:EIGEN), signaling his growing confidence in the cryptocurrency. Over the last 24 hours, EIGEN saw an 11.69% price increase, reaching $5.23. Despite fluctuations in price between $4.69 and $5.23, its market capitalisation grew by 6.72% to $1.08 billion. EIGEN also reached an all-time high of $5.38 on December 12, 2024. The cryptocurrency’s price chart shows a head and shoulders pattern, commonly seen as a sign of continued growth. If EIGEN breaks through the resistance level at $5.38, the price could rise to $7, a 37.13% increase from its current level. With solid support at $4.77, the market remains relatively stable. Despite the recent price surge, the Stochastic Oscillator reading of 70.46 indicates that EIGEN is in overbought territory, suggesting that a price correction may occur. However, the Awesome Oscillator, with a reading of 0.122, confirms a continued bullish sentiment, supporting the current upward trend. EIGEN has seen rising user engagement, with new addresses increasing significantly after a price spike in September 2024. Though new address growth slowed in December, active addresses rose by 13.92%, indicating that current users remain engaged. Meanwhile, transaction activity has also risen, particularly in smaller ranges like $1-$10 and $1-$10k, reflecting broader interest from retail traders and institutional investors. Justin Sun’s involvement has also played a role in EIGEN's market performance. Since October 2024, he has accumulated 9.378 million EIGEN, worth $37.3 million, continuing his pattern of strategic investment. His actions suggest that EIGEN may maintain its positive market momentum. At the time of reporting, the price of Eigenlayer (EIGEN) was $5.42.
3 Cryptocurrencies That Reached All-Time Highs Today — December 17
As the cryptocurrency market continues to gain momentum, several altcoins have reached new heights today. GateToken (GT), EigenLayer (EIGEN), and Bitget Token (BGB) are among the standout performers, each experiencing significant price appreciation. EigenLayer (EIGEN) EigenLayer is an Ethereum-based protocol that allows its users who have staked ETH to “restake” it to secure other applications and services on the network. Its native token EIGEN climbed to a new all-time high of $5.65 during Tuesday’s early Asian session, making it one of the altcoins that recorded new highs today. It currently trades at $5.28, a 7% drop from the price peak. An assessment of the EIGEN/USD one-day chart reveals that the uptrend has continued to strengthen. Its Aroon indicator confirms this with an Up Line value of 100%. This indicator measures the time since an asset’s price hit its highest or lowest point over a given period, typically 14 days, to identify trends and trend strength. When the Aroon Up line is 100%, the asset has recently reached a new high within the selected period, signaling strong upward momentum. This bullish indication suggests that the asset is in a strong uptrend and buyers are in control. EIGEN Price Analysis. Source: TradingView If EIGEN buyers remain in control, they could propel its price towards its all-time high and beyond it. Conversely, a decline in bullish pressure may cause the token’s price to drop to $4.82. GateToken (GT) GateToken powers GateChain, a public blockchain that facilitates digital asset transfers. GT’s price rocketed to an all-time high of $13.94 today before witnessing a slight correction. GT’s price surge is backed by actual demand for the altcoin, reflected in its rising Rising Strength Index (RSI), which is at 69.82 at press time. The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges from 0 to 100. Readings above 70 suggest the asset is overbought and may be due for a correction, while readings below 30 indicate oversold conditions, signaling a potential price rebound. GT Price Analysis. Source: TradingView With an RSI of 69.82, GT’s buying activity currently surpasses selling pressure among market participants. If this momentum persists, the altcoin could reclaim its all-time high of $13.94 and potentially push beyond it. On the other hand, if profit-taking activity commences, the coin’s price may dip to $11.98. Bitget Token (BGB) Bitget Token (BGB) is the native utility token of the Bitget cryptocurrency exchange. It is one of the altcoins that climbed to a new peak today. It recorded an 18% intra-day increase and hit an all-time high of $3.98. Over the past 24 hours, its trading volume has totaled $256 million, rocketing by 12%. When an asset’s price rises alongside increasing trading volume, it indicates strong market interest and active participation. This suggests that the price growth is backed by actual buying pressure and not fueled by speculation. BGB Price Analysis. Source: TradingView If this bullish momentum persists, BGB may reclaim its all-time high. However, a surge in selling activity could push its value down to $3.16.
Ethereum Foundation’s ETH Sales Continue with $4K in Sight
The Ethereum Foundation has sold 100 ETH. ETH has traded at $3,992 over the past 24 hours. The Ethereum Foundation sold another 100 ETH for 402,473 DAI on December 17, 2024. This transaction is part of their ongoing sell strategy for the year. Notably, in the last seven days, the foundation has sold a total of 200 ETH for around 776,800 DAI. This infers a diplomatic sell pattern to maintain liquidity and fund public projects. The Ethereum Foundation has sold a collective 4,466 ETH for approximately 12.62 million at an average price of $2,822 per ETH since the beginning of 2024. This transaction series of the foundation exhibits the management of its ETH reserves. Moreover, in November 2024, the Ethereum Foundation sold 100 ETH for 334,315.7 DAI. It marks the first sale since the release of the 2024 financial report on November 8. The report reveals that as of October 31, 2024, the foundation’s total asset reserves are likely recorded at around $970.2 million, with $788.7 million in crypto assets, 99.45% of which is ETH. The Ethereum Foundation states that they will sell ETH regularly to fund major projects and maintain operational reserves. This suggests the effort taken to liquidate parts of their ETH holdings. It will support the ecosystem development, ensure financial stability, and fund public goods. Ethereum Price Amid The Ethereum Foundation Sale Ethereum, the largest altcoin, has recorded a moderate gain of over 2%. At the time of writing, ETH trades at $3,992, with its trading volume resting at $42.08 billion, after surging over 31.77%. The current level shows the asset’s reachability toward the $4K mark. Only if the bulls maintain the momentum, ETH could hit and surpass the expected range. In the case of the emergence of bears, the price might plunge to its previous lows. Highlighted Crypto News New Peak for EigenLayer as Momentum Builds
New Peak for EigenLayer as Momentum Builds
EigenLayer trades at $5.37 after a 7.75% jump. EIGEN’s daily trading volume has surged by a remarkable 84.25%. Following a short bullish correction, the crypto market cap has bounced to $3.75 trillion, with assets reflecting both profits and setbacks. In the face of mixed sentiment, EigenLayer (EIGEN) has hit a new all-time high at $5.65. The prolonged 117% rally of EIGEN over the past thirty days fueled the asset to hit new highs. In the early trading hours, a series of crucial resistances were broken, particularly at $5.14 and $5.30. Over the last 24 hours, EigenLayer has visited its low at $4.92 and eventually jumped to the ATH. As of now, EIGEN trades at $5.37, registering a gain of over 7.75%. The asset’s market cap has reached $1.13 billion. In the meantime, the daily trading volume of the asset is resting at $406 million. EIGEN price chart (Source: CMC ) Zooming in on the weekly price chart, EIGEN has recorded an 11.27% gain. The asset opened the week trading at $4.79, and the price momentum was highly volatile. The midweek trading level is observed between $4.99 and $4.55, respectively. Does EIGEN Have More Potential? The four-hour price graph of EIGEN has reported an active upside correction, inferring market interest. If the bullish momentum continues, the asset could surpass the current ATH with ease, hitting $5.77. This signals a mighty continuation of the uptrend, and the altcoin can reach a high of $5.85. If the bullish sentiment turns around, EIGEN might encounter sturdy downside pressure. The price could fall back and stabilize at $5.33. Failure to hold ground at this level could wipe the gains, causing the asset to backpedal toward the $5.27 mark or even lower. EigenLayer’s daily trading window displays the short-term 9-day moving average upon the long-term 21-day moving average. Moreover, the daily Relative Strength Index (RSI) stands at 61.14, within the neutral range. It reflects a dominant buying pressure in a healthy uptrend. Additionally, the Moving Average Convergence Divergence of the EIGEN/USDT trading pair illustrates the MACD line has crossed upon the signal line. This crossover likely highlights the positive movement of EigenLayer. There could be more buying interest, and the price may ascend. EIGEN chart (Source: TradingView ) The technical indicator, Chaikin Money Flow (CMF), is positioned at -0.01, inferring the negative money flow. It signals a weak distribution but not an absolute bearish signal. If it declines further, strong selling pressure is confirmed. Concurrently, EigenLayer’s daily trading volume has surged by over 84.25%. Disclaimer: The opinion expressed in the article is solely the author’s. It does not represent investment advice. TheNewsCrypto team encourages everyone to do their own research before investing. Highlighted Crypto News Could the RLUSD Launch Ignite an XRP Bull Run?
Wormhole, EigenLayer and NEAR-focused Nuffle Labs partner to bring restaking beyond Ethereum
Wormhole is working with restaking protocol developers Nuffle Labs on a solution to expand EigenLayer’s restaking functionality beyond the Ethereum ecosystem, according to an announcement on Tuesday. The move represents a serious development for one of the buzziest areas of crypto R&D: sharing the security generated by staking to secure multiple protocols and applications simultaneously. The solution, which leverages Wormhole’s message-passing architecture and Nuffle’s NUFF protocol, will enable restaking assets directly from any Layer 1 or Layer 2 blockchain without the need for asset bridging, the teams wrote in a statement. Restaking has become an area of intense focus and interest for many crypto-industry participants. In short, protocols like EigenLayer enable apps to pool the security of already staked assets and avoid establishing their own separate security infrastructure. The sector improves the efficiency of proof-of-stake platforms while also possibly enabling new forms of blockchain use cases. Applications and protocols that share restaked assets are known as “actively validated services,” or AVSs, which can set up bespoke validation tasks or rules. Some experts think restaking will play an essential role in oracles providing off-chain data to onchain smart contracts, in Layer 2 rollups tapping in for additional security and ensuring data availability. Nuffle Labs, a spin-off venture from the NEAR Foundation, is developing modular blockchain technology to scale the ecosystem, including the NEAR Data Availability Layer and NEAR Fast Finality Layer. The partnership with Wormhole will make all the tokens provided through Nuffle’s infrastructure available to AVSs built on EigenLayer’s shared security framework. "Over time, as every asset gets restaked and the industry becomes more interconnected, our vision is to create an ecosystem where you can do anything from anywhere,” Nuffle CEO Altan Tutar said in a statement. “Whether it be lending, borrowing or restaking, we aim to create a global marketplace for all."
Eigen Supports Ethereum R&D with 1% Token Allocation
Eigen Foundation commits 1% of EIGEN tokens to support Ethereum Layer 1 R&D via the Protocol Guild. Eigen launches incentives to reward stakers and operators, driving engagement in Actively Validated Services on EigenLayer. The Eigen Foundation has announced a big move by committing 1% of the total EIGEN token supply to the Protocol Guild, a collaborative funding mechanism for Ethereum Layer 1 R&D. Over 180 members from 29 teams actively engaged in several vital areas—including client development, research, specification writing, testing, and coordination—directly gain from this effort. This distribution emphasizes the dedication of the foundation to enhance the Ethereum ecosystem and guarantees sufficient support for important players of its infrastructure. 1/ The @ProtocolGuild is a collective funding mechanism for Ethereum’s Layer 1 R&D maintainers, with 180+ members across 29 teams. Ethereum thrives because of its incredible contributors—the developers, researchers, and coordinators working tirelessly behind the scenes. To… pic.twitter.com/p0Yydksmvi — Eigen Foundation (@eigenfoundation) December 12, 2024 EIGEN Tokens Drive Broader Blockchain Participation Furthermore, the foundation started its Programmatic Incentives v1, meant to issue almost 66.95 million EIGEN tokens throughout the first year. These incentives comprise 1% for EIGEN stakers and operators as well as a 3% allocation for Ethereum stakers and liquid staking token operators. A pillar of the EigenLayer ecosystem, Actively Validated Services (AVS) should be fully participated in by means of this ordered incentive scheme. The foundation intends to create a stronger and more dynamic network benefiting the larger blockchain community by motivating stakers and operators. This dual strategy—direct payment for Ethereum developers via the Protocol Guild and the implementation of programming incentives—showcases a complete method of ecosystem development. While the incentives encourage adoption and participation inside the EigenLayer ecosystem, the money guarantees unfettered continuation of the vital task of maintaining and expanding Ethereum’s Layer 1 infrastructure. These initiatives complement the larger goal of the foundation—that of supporting distributed networks and the people running them. Previously, CNF reported that on September 30 the limitations on Eigen token transfers were removed, therefore signifying a turning point for the token’s flow. The token is likely to see more market activity with this more adaptability, so stimulating more interest and involvement among the crypto community. Recommended for you: Buy Ethereum Guide Ethereum Wallet Tutorial Check 24-hour Ethereum Price More Ethereum News What is Ethereum?
Data: Tokens such as ARB, APE, QAI will undergo a large-scale unlocking next week, with the value of ARB unlocking estimated at about 91.4 million US dollars
On Dec. 15, Token Unlocks data showed that ARB, APE, QAI and other tokens will be unlocked in large amounts next week, among others: Arbitrum (ARB) will unlock about 92.65 million tokens at 9 p.m. SGT on Dec. 16, representing a ratio of 2.26 percent to the current circulating volume and a value of about $91.4 million; ApeCoin (APE) will unlock approximately 15.6 million tokens at 8:30 p.m. Singapore time on Dec. 17, representing a ratio of 2.16 percent to current circulating volume and a value of approximately $24 million; QuantixAI (QAI) will unlock approximately 232,000 tokens at 8:00 a.m. Singapore time on Dec. 18, representing a ratio of 5.16 percent to current circulating volume and a value of approximately $22 million; Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Singapore time on December 16, at a ratio of 0.05% to current circulation, valued at approximately $20.1 million; Pixels (PIXEL) will unlock approximately 54.38 million tokens at 6:00 p.m. Singapore time on Dec. 19, representing a ratio of 7.05% to current circulating volume and a value of approximately $12.1 million; Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 p.m. Singapore time on December 18, at a ratio of 0.44% to current circulation, valued at approximately $14.7 million; Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8:00 a.m. Singapore time on Dec. 17, at a ratio of 1.46% to current circulating volume, valued at approximately $10.5 million; Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 a.m. Singapore time on December 18th, at a ratio of 0.61% to current circulating volume, valued at approximately $6.2 million; Fusionist (ACE) will unlock approximately 1.8 million tokens at 8:00 a.m. Singapore time on December 18, at a ratio of 4.26% to current circulation, valued at approximately $4.9 million; Catizen (CATI) will unlock approximately 9.9 million tokens at 8:00 a.m. Singapore time on Dec. 18, at a ratio of 4.81 percent to current circulating volume, valued at approximately $4.9 million; Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8:00 a.m. Singapore time on Dec. 20, representing a ratio of 1.97% to current circulating volume and a value of approximately $2.3 million; OmniFlix Network (FLIX) will unlock approximately 15.31 million tokens at 8:00 a.m. Singapore time on December 17, at a ratio of 3.76% to current circulating volume, valued at approximately $1.9 million; Mintlayer (ML) will unlock approximately 9.91 million tokens at 8:00 a.m. Singapore time on December 16th, at a ratio of 5.90% to current float, valued at approximately $1.5 million; Hatom (HTM) will unlock approximately 1.07 million tokens at 8:00 a.m. Singapore time on December 19, at a ratio of 2.39% to the current circulating volume, valued at approximately $1.3 million.
Eigen Foundation commits 1% of EIGEN supply to Ethereum development
Eigen Foundation has announced that it will commit 1% of all EIGEN token supply to Protocol Guild, an on-chain fund for maintaining the Ethereum Layer-1 network. The foundation which supports the restaking platform, Eigen Layer, announced this on X, noting that it is committed to Ethereum security. According to the Foundation, pledging 1% of its supply to the fund will enable the Protocol Guild to continue its work on Ethereum infrastructure development and ensure it stays decentralized. Given that the EIGEN token has a total supply of 1.68 billion, with 210.81 million currently in circulation, the pledge would see Protocol Guild get around 16.8 million EIGEN tokens over time. Based on the current value of the token, that would be worth $82.6 million. Eigen Foundation said: “By pledging 1% of EIGEN supply, we aim to ensure that the Protocol Guild can continue its mission to provide consistent funding for Ethereum maintainers, supporting their stewardship of the network.” Protocol Guild is an on-chain fund for the core maintainers of Ethereum L1 infrastructure. Its focus is on research and development to sustain the network and the group members work on several core developments within the Ethereum ecosystem, such as Beam Chain, zk-proofs, decentralized storage, and zk-proofs. See also Travala Token (AVA) surges 300% following CZ’s endorsement and Binance's early investment Protocol Guild donations are to surpass $100 million Meanwhile, the pledge from Eigen Layer now means over a dozen projects have taken the Protocol Guild pledge to donate at least 1% of their token supply to the fund. According to data from Dune analytics regarding the restaking protocol, EtherFi was the first to commit 1% of its supply. Since then, several others have made similar moves, but the data has not yet been updated to include the Eigen Foundation commitment. Other major pledges include Taiko Labs, PWN DAO, Puffer, and EthStorage. More recently, Otto DAO, the community behind the on-chain lottery protocol LottoPGF, also committed 1% of its treasury to the Guild, while Alinged Foundation allocated 1.5% of the Aligned Layer token supply. However, other Ethereum-based projects and individuals have opted for direct donations, including popular L2 networks such as Arbitrum, Optimism, and Zksync. Overall, Protocol Guild has received over 8,282 donations from almost 832 donors, who donated $92.9 million as of December 9, with Ether.Fi being the biggest donor, followed by TAIKO. The donated funds are being spent supporting various developers working on core Ethereum projects. Developers receive distributions based on their contributions to the Ethereum network. So far, the Guild has 187 members. See also Paris-based financial group Oddo is working on a stablecoin Over the last two years, the project has distributed $38 million to developers, with each recipient receiving a median amount of $51,617 in the last 12 months. The Guild also plans to distribute a median amount of $79,342 to the developers in the next 12 months. The project currently has about $54 million, subject to a four-year vesting period. Ethereum developer activity in decline Meanwhile, the increase in financial commitment to Protocol Guild could not have come at a better time for the Ethereum network. Solana recently overtook Ethereum as the top ecosystem for developers for the first time since 2016. According to a report from Electric Capital, Solana attracted 7,625 new developers in 2024, compared to Ethereum’s 6,456. The increase in Solana developers is mostly due to growth in Asia, but it highlights how the network is attracting new builders. Nevertheless, Ethereum remains a major draw for most developers as it continues to have the highest developer activity of all blockchain networks, with 6,244 in 2024. However, monthly Ethereum developers fell by 17% compared to last year. Amidst all these, Eigen Layer emerged as the fastest-growing developer ecosystem. The protocol reported a 167% increase in monthly overall developers. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
Eigen Foundation pledges 1% of EIGEN token equaling $8M to support Ethereum development
The Eigen Foundation has committed 1% of its EIGEN token supply to the Protocol Guild, a group dedicated to Ethereum Layer-1 research and development. According to CryptoSlate data, the EIGEN token has a total supply exceeding 1.6 billion. With this pledge, the Protocol Guild could receive up to 1.6 million EIGEN tokens, valued at approximately $8 million, based on the current price of $5 per token. The Eigen Foundation stated that the transaction for this pledge will be executed soon. Supporting Ethereum development In a Dec. 13 post on X (formerly Twitter), the Foundation explained that the pledge reinforces its goal of supporting the Ethereum ecosystem’s growth and sustainability through funding the Guild. The Protocol Guild plays a crucial role in Ethereum’s development by funding projects and contributors. It currently includes over 180 members from 29 teams across the crypto space, supporting initiatives such as client development, research, specifications, testing, and coordination. The Foundation highlighted the ongoing advancements in Ethereum, such as zk-proofs , decentralized storage, and rollups. It expressed pride in supporting builders shaping the future of Ethereum through the Protocol Guild. This pledge aims to ensure the Protocol Guild continues providing consistent funding for Ethereum’s decentralized infrastructure maintainers. It stated: “At Eigen Foundation, we share the belief that a decentralized future depends on strong, well-supported infrastructure. By pledging 1% of EIGEN supply, we aim to help the Protocol Guild sustain Ethereum’s core development and maintain its decentralized future.” EigenLayer, the Foundation’s flagship platform, allows users to restake ETH to secure third-party networks. According to DeFillama data , the protocol is the third-largest DeFi protocol, with the total value of assets locked on the platform amounting to $17.97 billion. Funding nears $100 million According to Dune Analytics data , the Protocol Guild has already received approximately $95 million in donations, putting it on the verge of reaching $100 million. This total does not include the EigenLayer pledge. Notable contributions include $27.5 million from the Ether.fi Foundation and $20.9 million from Taiko Labs. Other donors, such as the LayerZero Foundation and Arbitrum Community, have contributed $7.6 million and $3.2 million, respectively. Mentioned in this article Ethereum ether.fi EigenLayer Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Solana overthrows Ethereum’s 8-year reign as top ecosystem for new devs
New developers flocked to the Solana ecosystem this year, overthrowing Ethereum’s eight-year reign as the top ecosystem for new developers. Still, Ethereum is number one globally in total developer activity. According to a Dec. 12 report from Electric Capital, the Solana ecosystem onboarded more new devs than the Ethereum ecosystem for the first time since 2016. Current totals show that 7,625 new developers have joined Solana this year, led by growth in Asia, compared with Ethereum’s 6,456. Solana, led by growth in Asia, managed to topple Ethereum as the top ecosystem for new developers in 2024. Source: Electric Capital The report also noted that the Solana ecosystem had experienced an 83% jump in activity since last year. Solana managed to briefly flip Ethereum on several fronts this year. On March. 18, Solana network activity surpassed Ethereum amid a scramble for Solana-based memecoins, while Oct. 28 saw it surpass Ethereum in daily network fee generation over 24 hours. The report found that 39,148 new developers began exploring crypto this year, down 7% from last year and about half the all-time high of more than 77,000 in 2022. Ethereum is the number one ecosystem for total developer activity Despite the number of monthly Ethereum developers shrinking by 17% over the last year to 6,244, it’s still the biggest ecosystem for total developer activity. According to Electric Capital’s data, Ethereum has the most active developers across Asia, Europe, North America, Africa and South America. Ethereum is still the number one ecosystem for total developer activity aworldwide Source: Electric Capital Ethereum’s layer-2 networks have also seen growth of 64% since 2021, while 26% of all monthly crypto developers are working on L2s and the mainnet. Eigenlayer, the primary restaking protocol on Ethereum, was the fastest-growing developer ecosystem in 2024, with a 167% increase in monthly overall developers. Crypto spreading around the world Electric Capital’s report found that crypto has also grown globally, with developer numbers increasing in Africa, South America and Asia. In particular, Asia, Europe, and North America were flagged as the most prominent crypto hubs in 2024. Asia leads the pack with one in three developers worldwide living on the continent, thanks partly to India onboarding the most new crypto developers in 2024. Related: Crypto market matured ‘dramatically’ in 2024: Coinbase According to Electric Capital, crypto activity now spans all time zones as well, with different parts of the globe gravitating toward different use cases. Stablecoin transactions are consistently active , rising 3% during Asian, European and African daylight hours. Meanwhile, non-fungible token (NFT) trading peaks happen during America’s work day, and minting peaks during Asia’s work hours. Magazine: How Shibtoshi gambled 37 ETH and became a Shiba Inu billionaire
The Eigen Foundation commits to allocating 1% of the EIGEN token supply to the Protocol Guild
On December 13, the Eigen Foundation tweeted that it has pledged to allocate 1% of the EIGEN token supply to the Protocol Guild to ensure that it can continue to fulfill its mission and provide Ethereum maintainers with continuous funding to support their management of the network.
Solana Surpasses Ethereum in New Developers After 8 Years
Solana surpasses Ethereum in new developer growth for the first time in eight years in 2024. Despite Solana’s surge, Ethereum remains the global leader in total developer activity. Eigenlayer sees 167% growth in 2024, becoming the fastest-growing Ethereum ecosystem. For the first time in eight years, Solana has beaten Ethereum in the number of new developers joining the platform. According to the recent Electric Capital report, Solana had 7,625 new developers in 2024, while Ethereum had 6,456 new developers. This is a big development for Solana, which has experienced robust expansion in Asia and has seen an 83% increase in developer engagement annually. Despite Solana’s surge, Ethereum remains the largest ecosystem for developer activity globally. The report shows that Ethereum still leads with the most active developers across continents, including Asia, Europe, North America, and Africa. Ethereum’s Layer-2 networks have also experienced impressive growth, increasing by 64% since 2021. Solana’s Key Milestones On March 18, Solana’s network activity briefly surpassed Ethereum’s due to a boom in Solana-based memecoins. Later, on October 28, Solana also outpaced Ethereum in daily network fee generation for the first time. These milestones have helped elevate Solana’s position in the developer community. Overall, the number of new developers entering the crypto space has declined. This year, 39,148 new developers joined the crypto ecosystem, a 7% drop from last year and far from the 77,000 new developers recorded in 2022. Despite this, Ethereum still holds a dominant position with a larger pool of monthly active developers, with 6,244 active on the network. Electric Capital’s report also highlights the rapid growth of Eigenlayer, Ethereum’s restaking protocol. With a 167% increase in developer activity in 2024, Eigenlayer has become the fastest-growing ecosystem, signaling strong interest in Ethereum’s Layer-2 solutions. Global Crypto Development Trends The report further explains the growth of crypto development across the globe. Asia has turned into a region of focus, with one in every three developers working on crypto. India has been the most productive, as the country onboarded the most new developers in 2024. Africa and South America joined the others with increased adoption of cryptocurrencies during this period. Stablecoin transactions occur during business hours in Asia, Europe, and Africa, while NFT trading is at its peak during working hours in the United States. On the other hand, minting activity increases during Asia’s business hours. The post Solana Surpasses Ethereum in New Developers After 8 Years appeared first on CryptoTale.
Solana surpasses Ethereum as top ecosystem for new developers
Solana (CRYPTO:SOL) has overtaken Ethereum (CRYPTO:ETH) as the leading ecosystem for new developers in 2024. This marks the end of Ethereum's eight-year dominance in this area. According to a report from Electric Capital released on December 12, Solana onboarded more new developers than Ethereum for the first time since 2016. In total, 7,625 new developers joined Solana, compared to Ethereum's 6,456. The report highlights that Solana experienced an impressive 83% increase in developer activity compared to the previous year. Throughout 2024, Solana briefly surpassed Ethereum in several metrics, including network activity on March 18 and daily network fee generation on October 28. Overall, the report noted that 39,148 new developers entered the crypto space this year, reflecting a 7% decline from last year and about half of the all-time high of over 77,000 new developers in 2022. Despite Solana's rise in attracting new developers, Ethereum remains the top ecosystem for total developer activity globally. Electric Capital's data indicates that Ethereum continues to have the most active developers across all continents, with a monthly developer count of 6,244. Ethereum's layer-2 networks have also seen significant growth of 64% since 2021, with approximately 26% of all monthly crypto developers working on these solutions. Eigenlayer, a primary restaking protocol on Ethereum, recorded the fastest growth among developer ecosystems in 2024, with a remarkable 167% increase in monthly developers. The report also noted that crypto development is expanding globally, with notable increases in Africa, South America, and Asia. Asia has emerged as a key hub for crypto development, contributing to one-third of global developers. At the time of reporting, the Ethereum price was $3,922.18, and the Solana price was $226.19.
The Eigen Foundation commits to allocating 1% of the EIGEN token supply to the Protocol Guild
On December 13th, Eigen Foundation tweeted that it has committed to allocate 1% of the EIGEN token supply to Protocol Guild to ensure that it can continue to fulfill its mission of providing ongoing funding to Ethereum maintainers and supporting their management of the network.
EigenLayer releases ELIP-002 proposal: Introduction of penalty mechanism
EigenLayer has released its second EigenLayer Improvement Proposal (ELIP-002) on the X platform: Slashing Mechanism. This ELIP proposal introduces a slashing mechanism to the EigenLayer protocol, enhancing cryptographic economic commitment and providing innovative tools for rewarding high-quality service operators for Active Verification Services (AVS). The penalty mechanism design in the proposal integrates two new concepts proposed by Eigen Labs: Unique Stake and Operator Sets, enabling AVS to penalize operators who fail to fulfill their commitments (such as computational errors or activity issues). The Unique Stake ensures that each AVS exclusively occupies specific punishable.
Eigen Foundation Pledges 1% of EIGEN Token Supply to Protocol Guild for Ethereum Layer 1 R&D
The Eigen Foundation has announced its pledge to allocate 1% of the EIGEN token supply to the Protocol Guild, a collective funding mechanism dedicated to supporting Ethereum Layer 1 R&D. The latest pledge forms part of the team’s mission to create a marketplace for “programmable trust” through its decentralized restaking protocol. Eigen Foundation’s 1% Token Pledge The Protocol Guild, which comprises over 180 members from 29 teams, plays a crucial role in maintaining Ethereum’s decentralized network. Its members focus on key areas such as client development, research, specification design, testing, and coordination. This ensures Ethereum’s continuous evolution and resilience against centralized capture. EigenLayer enables staked ETH to serve as cryptoeconomic security for other protocols, improving Ethereum’s security while supporting innovation. By dedicating a portion of its token supply to the Protocol Guild, the Eigen Foundation aligns its goals with the Guild’s mission of ensuring sustainable incentives for Ethereum’s maintainers. Its official statement read, “This commitment aligns with EigenLayer’s mission: To extend Ethereum’s security through restaking and creating a marketplace for programmable trust. We’re proud to contribute to Ethereum’s growth and long-term sustainability. The latest development comes after the Eigen Foundation announced the EIGEN Season 2 Stakedrop in September. This distribution initiative aimed at recognizing contributors and participants who have supported its development. The entity had then stated that the stakedrop would allocate EIGEN tokens across three categories: stakers and operators who actively participated during the season, ecosystem partners such as rollups and RaaS providers, and community members who have played a pivotal role in advocating for EigenLayer. A month later, EIGEN debuted on several exchanges in one of the most heavily discussed and anticipated token launches of 2024. EigenLayer’s Growth And Two Security Breaches Launched by Sreeram Kannan in early 2021, EigenLayer rose to prominence as a leading DeFi project in 2024, with over $18 billion in total value locked (TVL) as reported by DeFiLlama. However, EigenLayer suffered a $5.7 million hack involving stolen tokens sold via decentralized exchanges. The protocol faced another security breach on October 18 when its official X account was hacked . The attackers used the compromised account to advertise a fake airdrop campaign, directing users to malicious links disguised as part of the concluded Season 2 token distribution. On-chain investigator ZachXBT and Polygon Labs’ Mudit Gupta quickly warned users to avoid these links. Scam Sniffer later confirmed the phishing scheme.
Hyperbolic raises $12M Series A from blockchain VC firms, Polychain Capital and Variant
Hyperbolic, the leading provider of open access AI computing and inference services, has raised a $12M Series A led by Variant and Polychain Capital, two leading blockchain-focused venture capital firms. This latest raise brings the company’s total funding to $20M. With this strategic funding, Hyperbolic aims to expand its engineering, go-to-market, and strategic teams. Additionally, Hyperbolic plans to launch its own blockchain in 2025, furthering its vision of the future of AI being collectively governed. “Hyperbolic is the first player we’ve encountered that truly addresses the ‘cost of trust’ issue in decentralized GPU networks, without sacrificing performance, quality, and user experience,” said Jesse Walden, managing partner at Variant. “With Jasper and Yuchen’s deep expertise spanning both crypto and AI, they are uniquely equipped to transform decentralized compute marketplaces for AI models.” Following lead investors Variant and Polychain Capital , other notable backers in this funding round include Chapter One, Lightspeed Faction, Bankless Ventures, IOSG, Vertex, GSR, Wintermute Ventures, Blockchain Builders Fund, Alumni Ventures, and Ambush. This follows a $7 million seed round led by Polychain Capital and Lightspeed Faction, which came after a $725,000 pre-seed round with participation from investors such as Chapter One and Samsung Next. Angel investors in this round include Sreeram Kannan (EigenLayer), Devin Walsh (Uniswap Foundation), Ethan Sun (MyShell), Daniel Shorr (Modulus), Bidhan Roy (Bagel), Ying Sheng and Lianmin Zheng (LMSYS), Dillon Rolnick (Nous Research), Alex Atallah and Louis Vichy (OpenRouter), Chainyoda, Comfy Capital, Nicola Greco (Protocol Labs), Alex Atallah (OpenRouter) and Thomas Sco (formerly Worldcoin). Built on a strong Web2 foundation, Hyperbolic is trusted by major AI players like Quora, Hugging Face, OpenRouter, Black Forest Labs, Nous Research, LMSYS, and leading universities such as Cornell, UC Berkeley, NYU, and Stanford—giving it a significant edge over crypto-first competitors. Now expanding into Web3, Hyperbolic bridges the two worlds because the future of AI is about collaboration. Unlike many Web3 AI projects that falter, Hyperbolic delivers with its GPU Marketplace, Inference Services, and Proof of Sampling (PoSP) —the gold-standard verification protocol. With maximized GPU performance, higher precision models, and secure, affordable solutions, Hyperbolic sets a new standard for reliable, high-performance AI in Web3. Hyperbolic’s GPU Marketplace provides AI developers with on-demand, affordable GPU access. Powered by Hyper-dOS, Hyperbolic’s decentralized operating system, the marketplace enables suppliers to monetize idle GPUs while offering renters up to 75% cost savings and access within a minute. With flexible, on-demand rentals, Hyperbolic empowers developers to overcome traditional compute barriers. Hyperbolic uses aggregated compute and its proprietary Proof of Sampling (PoSP) protocol to deliver its verifiable Inference Service at a fraction of the cost. Serving 30,000 Web2 users, it processes over 1 billion tokens daily, hosting cuing-edge open-source models and adding new ones based on community demand. By running models at BF16 precision for quality (unlike competitors stuck at FP8) and providing early access to new models, Hyperbolic empowers developers with cost-effective, high-quality inference while safeguarding user data and intellectual property. Developers and researchers ready to take their ideas Hyperbolic can head to app.hyperbolic.xyz and create an account to access a broad range of global GPU resources and open source models at affordable prices. For more information about Hyperbolic, its GPU Marketplace, and verifiable Inference services, please visit www.hyperbolic.xyz .
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