EigenLayer’s main strength lies in its ability to increase capital efficiency by letting users earn more from the same staked ETH. It’s particularly appealing to developers, providing a secure testing ground for new projects without the need for their own validator network.

While the solid backing from industry giants like Coinbase Ventures and Polychain Capital adds to its credibility, EigenLayer remains an exciting yet risky addition to Ethereum's rapidly evolving landscape. For a long time Eigen was the center of attention for the Ethereum community, but as time has drawn on and people have begun to scratch their heads at what “restaking” really even means, they’ve fallen a bit out of the spotlight. This is not necessarily a bad thing, however, as the best trades tend to come from coins the market ignores.

Based on pre-market trading, Eigen is expected to launch around a $7B fully diluted valuation (FDV) however volume on these pre-markets has been low so it may not be a good indicator of where the token will trade once it is live. With a large portion of the supply circulating at launch coming from airdrops which people will certainly take profit on, price action for the first few days should be very volatile. We’ll be watching to see where things level out in the following days, as Eigen is becoming a core piece of Ethereum’s ecosystem and would be a great addition to the Beluga Public Trading Wallet portfolio at the right price.