Coinbase Lists Pre-Launch Ethereum Restaking Protocol at $12,200,000,000 Valuation

High US crypto change Coinbase is itemizing one Ethereum (ETH) restaking protocol venture for pre-launch buying and selling.

In a brand new announcement, Coinbase says that EigenLayer (EIGEN) is now available for buying and selling forward of its official launch on the platform’s Worldwide Change and Coinbase Superior for customers in eligible jurisdictions exterior of the US, UK, and Canada.

Says Coinbase,

“You can now trade EIGEN-PERP with up to 2x leverage. EIGEN opens with a price of $7.307 and an Implied FDV (fully diluted valuation ) of $12.2 billion.”

EigenLayer permits ETH holders to re-stake their tokens to be used as “cryptoeconomic security” for protocols apart from Ethereum, in change for protocol charges and rewards, based on EigenLayer’s website.

Pre-launch buying and selling on Coinbase is a newly added function.

Says Coinbase,

“Pre-launch markets allow users to trade perpetual futures contracts on tokens that have not launched yet. When the underlying token is launched on applicable spot exchanges, the instrument converts to a standard perpetual contract. Pre-launch markets on Coinbase allow users to participate in price discovery for upcoming projects on a trusted and secure platform.”

Coinbase additionally warns there are greater dangers when buying and selling the pre-launch digital belongings.

“Pre-launch markets significantly differ from standard perpetual futures markets, carrying unique considerations and posing elevated risks. It is crucial to exercise caution and refrain from trading contracts that you are unfamiliar with or do not fully understand the associated risks.”

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