$EIGEN broke out on Daily TF!

Opening a swing long here with tight SL. ✍️

$EIGEN is the native cryptocurrency token of EigenLayer, a protocol built on Ethereum that enhances the functionality of Ethereum's ecosystem through a mechanism called "restaking."

EigenLayer allows users to restake their Ethereum (ETH) or liquid staking tokens (LSTs) to secure additional protocols, known as Actively Validated Services (AVSs), while earning rewards.

This creates a shared security model, enabling Ethereum’s staked assets to provide cryptographic security to various decentralized applications and services beyond the Ethereum mainnet itself.

@eigenlayer