$Eigen has successfully broken through $2 from its initial tweet at $1.35, with an increase of over 40% in the past month, making it a very strong contender among altcoins in the Top 200 by market cap.
As mentioned before, Eigen, as a leader in re-staking, can benefit from the rise of ETH combined with the positive news of ETH ETFs allowing staking. Additionally, the launch of EigenCloud will make "verifiable cloud" a major development direction moving forward.
In the latest report from @Delphi_Digital, the significance of EigenCloud for crypto applications and AI is detailed, drawing a comparison to Amazon's AWS, which sparked the wave of Web2 internet applications by providing developers with scalable infrastructure and dedicated services. Among them, EigenDA offers censorship-resistant data, and EigenVerify can be used for adjudication between subjects and objects, bringing verifiable AI reasoning and execution to developers.
You can read the full article at the following link:
As mentioned earlier, at the end of August, it was observed that ETH's leading effect was weakening. In the medium and long term, I am still optimistic about ETH, but it seems that there is a lack of momentum recently, and after thinking about it, I gradually exchanged 30% of the ETH long position to several altcoins, which I think the fundamentals are very good and in line with the current mainstream narrative target, to enrich the long portfolio.
I chose $XPL, $Hype, $ENA, $Eigen, $Bonk and $Ondo, which I am still watching, and will take the time to write about the reasons why I am optimistic about them, and this article will talk about @eigenlayer first.
In the past two months, it can be found that there are many ETH-based copycats in the strong currency, which is very logical. The ETH altits are divided into several categories, mainly L2-related, DeFi-related and Restaking-related, and the first two types of high-quality targets have risen a lot.
The launch of EigenCloud has made Eigen not only the number one re-staking protocol and the fastest DA protocol, but also the number one verifiable cloud system that can complete on-chain or off-chain tasks, which is also the key direction of their future development.
In addition, after leading the B round of investment last year, A16Z invested an additional $70 million in June this year, and ETHZilla chose to re-pledge $100M worth of ETH, all of which are good for the entire ecosystem. It can also be seen from the price trend that in the past period of time, $Eigen has been a relatively strong currency in the ETH system.
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