Top US crypto exchange Coinbase lists one Ethereum (ETH) protocol project for relaunch for pre-launch trading.
In a new announcement, Coinbase say that EigenLayer (EIGEN) is now available for trading prior to the platform’s official launch on the International Exchange and Coinbase Advanced for users in eligible jurisdictions outside the US, UK and Canada.
Says Coinbase,
“You can now trade EIGEN-PERP with up to 2x leverage. EIGEN opens at a price of $7.307 and an implied FDV (fully diluted valuation) of $12.2 billion.”
EigenLayer will allow ETH holders to redeploy their tokens for use as “cryptoeconomic security” for protocols other than Ethereum, in exchange for protocol fees and rewards, according to EigenLayer’s website.
Pre-launch trading on Coinbase is a newly added feature.
Say Coin base,
“Pre-launch markets allow users to trade perpetual futures contracts on tokens that have not yet been launched. When the underlying token is launched on applicable spot exchanges, the instrument is converted into a standard perpetual contract. Pre-launch markets on Coinbase allow users to participate in pricing for upcoming projects on a trusted and secure platform.”
Coinbase also warns that there are higher risks when trading digital assets before launch.
“Pre-launch markets differ significantly from standard perpetual futures markets as they involve unique considerations and increased risks. It is critical to be cautious and not trade contracts that you are not familiar with or do not fully understand the risks involved.”
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on X, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/tsuneomp
