$EIGEN is one of the most confusing setups in crypto right now
$28.6 billion locked in the protocol
token sitting near all time lows
that gap doesn't make sense on paper
they just rebranded to EigenCloud, moving beyond restaking into AI compute and verifiable infrastructure. backed by a16z. real TVL. real usage.
the issue is fees aren't flowing to token holders yet
so the market is pricing in that uncertainty
but the moment that changes
this disconnect becomes very hard to ignore
worth watching 👇
