EigenLayer Failed to Complete its Promises: Researcher

• EigenLayer failed to provide promised gains, claims researcher Alex Obchakevich.
• EIGEN token has skyrocketed almost 7% in the past 24 hours.
• Obchakevich claimed that the users of EigenLayer are questioning its transparency.

EigenLayer (EIGEN), a leading blockchain protocol focused on restaking while leveraging the Ethereum network, has failed to stand up to the expectations of the investors, claims Alex Obchakevich, the founder of Ukrainian-Austrian cryptoanalytics company Obchakevich Research. 

In a post on X (formerly Twitter) on Friday, the researcher highlighted how EigenLayer attracted a lot of attention during its initial days and successfully raised a massive $64.5M from venture capital funds. EigenLayer promised “innovation in liquid staking, delivering high revenues for users and reliability for investors” but failed to do so, said Obchakevich.

Related: EigenLayer (EIGEN) Price Prediction 2024-2030: Will EIGEN Price Hit $10 Soon?

Obchakevich stated that the users of the EigenLayer protocol expected significant returns from staking their assets but the actual returns were significantly lower which resulted in increased dissatisf…

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