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$EIGEN

17 pieces · Feb 2024 to Oct 2024 · 2 flagship

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Ethereum14 DeFi12 L1/L24 Market structure2

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Coverage per year

172024

Price and coverage

EigenCloud (prev. EigenLayer) $EIGEN

Calls: 5 bullish
Since first call, bullish: −94%
Since latest call, bullish: −93%
Now: $0.221

bullish thesis bearish thesis coverage, no call map, list or mentionWeekly closes in USD, log scale, as of 23 Oct 2026. Call figures turn cyan when the price moved the way the call pointed. Each marker links to its piece.

Start here · the strongest pieces on $EIGEN

Thesis17 Oct 2024Is EIGEN undervalued? Intersubjective security and valuation mathExplains why EIGEN sold off, how its intersubjective forking security and dual-token design work, then values it with a PE-100 model. Concludes EIGEN is massively undervalued, with $20B plausible if AVSs reach a $5B to $10B combined market cap.Map30 Apr 2024EigenLayer AVS mainnet guide: the 10 live AVS and what is nextWalks through the 10 AVS protocols live on mainnet with a TLDR and restaked ETH for each, then lists AVS nearing launch such as Aligned Layer, Hyperspace, Drosera, Espresso and Fhenix. Expects everything to turn into an AVS.Market take08 Apr 202415 tokens likely to launch at $1B+ FDV within three monthsFDV calls for 15 expected launches, such as EigenLayer at $30-50B, zkSync at $10-20B, LayerZero at $10-20B and Kelp at $1-3B, with a one-paragraph thesis each. Explicitly framed as quick thoughts rather than deep research.

Timeline · every piece, newest first

2024 17

18 Oct 2024Is EIGEN undervalued? Short TL;DRTL;DR of the longer EIGEN valuation post: the protocol provides real value to builders, AVSs will pay for security, and that value should accrue to EIGEN. Concludes the token is likely mispriced.ThesisEthereumDeFi

17 Oct 2024Is EIGEN undervalued? Intersubjective security and valuation mathExplains why EIGEN sold off, how its intersubjective forking security and dual-token design work, then values it with a PE-100 model. Concludes EIGEN is massively undervalued, with $20B plausible if AVSs reach a $5B to $10B combined market cap.ThesisEthereumDeFi

01 Oct 2024EIGEN valuation napkin math: restaking demand and AVS feesBack-of-envelope case that EIGEN at a $7.5B valuation is undervalued: a PE of 100 implies $75M earnings, or $150M annual protocol rewards if EIGEN earns half. That is reachable if AVSs pay 3-5% of inflation and have a $5B-$10B cumulative market cap.ThesisEthereumDeFi

25 Sep 2024More Q4 2024 mainnets to watch and EIGEN as a sentiment gaugeExtends a Q4/24 and Q1/25 launch watchlist and argues EIGEN's transferability on 30 Sept starts a second, larger wave of token launches. The performance of these assets will indicate how bullish sentiment really is.Market takeL1/L2Market structure

24 Sep 2024EigenLayer vs EigenDA vs EIGEN: what each one isClears up the confusion between EigenCloud (verifiable services platform for crypto-economic security), EigenDA (its flagship DA AVS providing cheap blob space) and the EIGEN token, which governs and secures the system by addressing intersubjective faults.ExplainerEthereumDeFi

23 Sep 2024EIGEN transferability on 30 Sept: pre-market FDV and restaked ETHFrames the 30 Sept EIGEN unlock as the start of the next token launch wave and a sentiment indicator. Cites a $3.45 perp price, a $5.8B pre-market FDV and over $12B in restaked ETH TVL.DataEthereumMarket structure

17 Sep 2024EIGEN airdrop: why LRT holders claim through restaking protocolsClarifies that LRT holders do not claim EIGEN through the EigenLayer portal but through the restaking protocols they used, such as Kelp and Swell. Only direct restakers and community allocation qualifiers claimed so far.ExplainerEthereumDeFi

17 Sep 2024EigenLayer as a decentralized cloud for crypto-economic securityDescribes EigenLayer as a developer platform for verifiable services that extends Ethereum's trust, letting teams bootstrap networks without rebuilding infra. EIGEN serves as the gateway to AVS airdrops and secures the system.ExplainerEthereumDeFi

16 Sep 2024EIGEN airdrop season 2: allocation, tokenomics and key numbersTL;DR of EIGEN airdrop season 2 covering allocation splits, snapshot date, claim routes, total supply and vesting. Includes pre-market FDV and EigenLayer TVL.DataEthereumDeFi

14 Sep 2024EigenDA throughput: 7.84 MB/s used of 15 MB/s capacityNotes EigenDA runs at 7.84 MB/s, 52% of its 15 MB/s max, while posting data from more than 15 chains including Celestia itself.DataEthereumL1/L2

03 Sep 2024EigenLayer: 4.7M ETH ($12B) restaked and EIGEN pre-market at $6B FDVEigenLayer holds 4.7M ETH ($12B) and will soon secure over 35 AVSes on mainnet. EIGEN, transferable from Sept 30, trades at a $6B FDV on Aevo pre-market, and he asks about competitors Symbiotic, Karak and Solayer.DataEthereum

09 Aug 2024EIGEN pre-market at $4.2 on Aevo implies $7B FDVEIGEN trades at $4.2 pre-market on Aevo, implying a $7B FDV on 1.67B tokens, against EigenLayer TVL above $13B (almost 5M ETH) and 50+ AVSes. Launch is about 1.5 months away.DataEthereum

27 Jul 2024EigenLayer AVS crypto-economic security ranking by restaked ETHRanks AVSs by restaked ETH securing them: EigenDA 3.3M ETH ($11B), eoracle 2.2M, Lagrange state committees 2.1M. Notes 153 operators secure 19 mainnet AVSes and 35% of restaked ETH is still undelegated.DataEthereumDeFi

06 Jun 2024Alpha Summary #2: Skate as an EigenLayer AVS season playStructured case for Skate: modular fragmentation of users and liquidity creates demand for a universal application layer, with an AVS-season catalyst as EIGEN becomes transferrable. Covers tech, bull case and backers.ThesisL1/L2DeFi

30 Apr 2024EigenLayer AVS mainnet guide: the 10 live AVS and what is nextWalks through the 10 AVS protocols live on mainnet with a TLDR and restaked ETH for each, then lists AVS nearing launch such as Aligned Layer, Hyperspace, Drosera, Espresso and Fhenix. Expects everything to turn into an AVS.MapEthereumDeFi

08 Apr 202415 tokens likely to launch at $1B+ FDV within three monthsFDV calls for 15 expected launches, such as EigenLayer at $30-50B, zkSync at $10-20B, LayerZero at $10-20B and Kelp at $1-3B, with a one-paragraph thesis each. Explicitly framed as quick thoughts rather than deep research.Market takeL1/L2DeFi

23 Feb 2024Kelp's KEP: tokenized EigenLayer points and what they could be worthExplains Kelp's KEP, an ERC-20 where 1 KEP equals 1 EigenLayer point, with weekly claims and a 0.5% fee. Uses other analysts' valuations of $0.1 to $0.14 per point to expect KEP near $0.15 at launch.BreakdownDeFiEthereum

Often covered with

EigenLayer110 EigenDA60 eOracle32 AltLayer23 Omni5 Gasp5 Kelp DAO17 Aevo9

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