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The current stake of EIGEN is higher than the Circulating Supply, as investors can stake tokens in their Lock-up Position.
Odaily Planet Daily News: Overseas KOL Ignas posted data pointing out that the amount of EIGEN currently in stake is larger than the circulating supply - the stake amount is 242 million, and the Circulating Supply is 186 million (according to CMC and Coingecko data). This is because EigenLayer allows investors' tokens in a 'locked' state to be staked. Ignas added that this is a common issue in the industry, TIA seems to have a similar issue. It dilutes the stake rewards available to real users and limits the Token's potential for appreciation because the lower APY is not enough to attract people to buy these Tokens from the market.