Coinbase, one of the top cryptocurrency exchanges in the US, has announced the listing of a new Ethereum (ETH) restaking protocol project for pre-launch trading.
The project, EigenLayer (EIGEN), is now available for trading on Coinbase International Exchange and Coinbase Advanced for users in eligible jurisdictions outside of the US, UK, and Canada.
According to Coinbase, users can now trade EIGEN-PERP with up to 2x leverage, with an opening price of $7.307 and an Implied FDV (fully diluted valuation) of $12.2 billion.
EigenLayer offers ETH holders the opportunity to re-stake their tokens for use as “cryptoeconomic security” for protocols other than Ethereum, in exchange for protocol fees and rewards.
Pre-launch trading on Coinbase is a new feature that allows users to trade perpetual futures contracts on tokens that have not yet launched. When the token is launched on spot exchanges, the instrument converts to a standard perpetual contract.
While pre-launch markets on Coinbase provide an opportunity for price discovery on upcoming projects, Coinbase warns users of the higher risks associated with trading pre-launch digital assets. It is important to exercise caution and fully understand the risks involved.
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