#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
💬 Do you think Bitcoin will become a new norm for corporate asset allocation? How might this impact Bitcoin’s price? What’s your recent BTC trading strategy? Post to share your price predictions, market analysis, and strategies with us using the topic tag!
🎁 Meanwhile, Gate’s BTC Staking event is in full swing! Simply stake your BTC and earn up to 3% APY. Click the link to start staking and enjoy your earnings: https://ww
EIGEN today lifted the transfer restrictions and parsed real-time circulating supply data
Original | Odaily Planet Daily (@OdailyChina)
Author | Azuma (@azuma_eth)
EigenLayer's protocolToken EIGEN will officially enter circulation today.
According to the official disclosure of the Eigen Foundation, it is expected that EIGEN's transfer restrictions will be lifted at 21:00 on September 30, 2024 PST (13:00 on October 1, Beijing time).
Because EigenLayer has conducted two large-scale Airdrops before, and the protocol has activated the re-stake function of the EIGEN Token before lifting the transfer restrictions, there is a certain misunderstanding in the current market about the actual circulating supply of EIGEN.
To dispel the fog of information, Kairos Research, an encryption analysis agency, recently conducted an analysis of the actual circulation status of EIGEN by combining the Airdrop application rate and stake data of EIGEN with EIGEN's actual circulation status. However, due to the rapid changes in real-time data approaching the unlocking day, we will calculate the circulation status of EIGEN a few hours before the opening based on Kairos Research's data model. In addition, Odaily Planet Daily will also sort out potential events and Nodes that may cause the expansion of EIGEN's circulation, hoping to help everyone's decision-making.
Airdrop Claim Status
First of all, all EIGEN currently in circulation come from two rounds of Airdrop activities (Stakedrop 1, Stakedrop 2), where Stakedrop 1 was originally planned to release 1.13 billion EIGEN (6.75%), and Stakedrop 2 was originally planned to release 86 million EIGEN, totaling about 200 million EIGEN, accounting for approximately 11.9% of the total initial supply of 1.67 billion.
However, the data does not represent the actual circulation situation, the specific reason is that there are a large number of unclaimed shares in both airdrops of the two quarters.
The application window for Stakedrop 1 has closed at 23:59 PST on September 7th (14:59 on September 8th Beijing time), according to Dune data, the final application rate is approximately 85.4%, releasing about 95.74 million EIGEN.
Currently, the application for Stakedrop 2 is still ongoing, but the real-time application rate is only 27%, releasing 23.26 million EIGEN.
In summary, the total amount of EIGEN currently claimed for the two seasons of Airdrop is about 1.19 billion, accounting for approximately 7% of the total supply at the beginning.
EIGEN stake status
Based on the calculations from the previous part, it can be determined that approximately 119 million EIGEN tokens have been released through the Airdrop. However, this is still not the actual circulating supply of EIGEN at present, because EigenLayer has already activated the re-stake function of EIGEN tokens early on and attracted a majority of token holders to participate in re-staking.
Because there is a 7-day cooling-off period before unstaking, the current staked EIGEN is in a restricted circulation state.
Dune data shows that the current amount of EIGEN Token in stake is approximately 69.36 million, which means that the actual circulating supply of EIGEN is only about 49.64 million, accounting for about 3% of the total supply at genesis.
Latent Variable Analysis and Monitoring
It is worth emphasizing that the previous discussion on the circulation data of EIGEN is limited to the analysis of the shares that are currently in full circulation. From a technical perspective, there are still several types of shares that can enter circulation at any time, which may affect the real-time circulation data, so it is necessary to further monitor this.
The first potential 'variable' is the Airdrop claim rate for Stakedrop 2, and the EIGEN claimed in this round of Airdrop can flow directly to the market. It is recommended to monitor this data through Dune's data dashboard. There is a key time node here, which is that the external Address claim for Node operators in Stakedrop 2 will open on October 6th, which may be a significant circulating variable.
The second type of 'variable' is the unstaking status of EIGEN in the restaked state. In fact, from the data of the past few days, the peak of unstaking has come, and it is still recommended to monitor the data through Dune's dashboard.
The third type of 'variable', EigenLayer, will launch an incentive plan in October, which aims to distribute EIGEN incentives on a weekly basis to qualified stakers and operating Nodes. EigenLayer officials stated that the incentive measures will implement retrospective rewards based on the staking situation since August 15, 2024, with the first round of rewards available for claim on a weekly basis starting from October. In the first year of the plan's implementation, it is estimated that approximately 6695 EIGEN will be allocated, equivalent to 4% of the initial supply of EIGEN Tokens.
Although the incentive plan releases a large amount of EIGEN, considering that the plan adopts a class-linear release mechanism based on weeks, the impact on the circulation supply data in the early stage will not be significant.
Risk Reminder
From the above, it can be inferred that after EIGEN lifts the transfer restrictions this afternoon, it is estimated that only about 49.64 million Tokens will be in full circulation, accounting for about 3% of the total initial supply. Based on the current trading market's valuation of around $4, the estimated initial circulation market cap is about $200 million.
Considering the fundamentals and market popularity of EigenLayer, it is expected that after opening on major exchanges, EIGEN will experience a more intense price battle. Investors should be aware of the risks of volatility.
As for the next few days, multiple potential variables may affect the current circulating situation. Odaily suggests investors actively monitor real-time trends and make trading decisions with caution.