Many experts anticipate that EigenLayer, the second-largest player in the Decentralized Finance (DeFi) sector following Lido, will likely have a market capitalization of under $10 billion following its airdrop.
EigenLayer market cap after airdop
According to Polymarket, 55% of predicters believe that its valuation will be lower than $10 billion, while 33% expect it to be between $10 billion and $15 billion. 9% expect a valuation of between $15 billion and $20 billion. $872,000 has been wagered in that trade.
Polymarket has become one of the biggest players in the betting industry. Unlike most centralized platforms, it uses blockchain technology, removing geographical barriers.
In the past, the majority of its projections have proven to be correct. For instance, users correctly anticipated that Joe Biden would not run for president in November. And, over the past weekend, the incumbent US president decided not to seek reelection, formally nominating his current Vice President, Kamala Harris.
EigenLayer is one of the most anticipated airdrops in the crypto industry because of its size. The network has a total value locked (TVL) of $15.8 billion, making it bigger than popular platforms like AAVE, Maker, Compound, and JustLend.
It is an infrastructure network that raised $100 million from Andressen Horowitz. Its main product is that it lets developers provide restaking solutions in the crypto industry. Restaking is a process where users take the ETH they have staked with Ethereum and then restake it with other Actively Validated Services (avs). Its goal is to secure these other networks.
AAVE, Uniswap, and Lido are valued at less than $10 billion
By comparing its size with other DeFi networks, its market cap is likely to be lower than $10 billion. Lido, which has over $34 billion in liquid-staked assets, has a market cap of $1.2 billion. AAVE is valued at $1.6 billion, while Uniswap and Maker have over $4.7 billion and $2.5 billion in valuation.
EigenLayer’s airdrop is expected to happen either in late September or early October. The developers already started the process in March when the first season of the EIGEN allocation, whose claim window will happen through September 7. The season 2 started on June 19th and will last through September 7.
Most users have criticized EigenLayer’s airdrop process for being lengthy and for barring participants from countries like the US, China, and Canada, which already participate in the ecosystem.
Data from third-party platforms like Aevo and Hyperliquid can help determine the potential market cap at launch. These platforms offer perpetual futures without an expiry. Aevo places the EIGEN price at $4.8, while Hyperliquid places it at $4.7.
EigenLayer is expected to have a supply of 1,673,646,668 tokens, giving it a potential market cap of $8.03 billion.
