Whales/institutions who purchased 8.917 million EIGEN at an average price of $3.64 began to sell on the chain

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Wu Blockchain
7 hours ago
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According to monitoring by @EmberCN, in October, whales/institutions spent $32.45 million USDC at an average price of $3.64 to purchase 9.17 million EIGEN through 21 addresses. Since last night, they have started to gradually redeem EIGEN and sell them on-chain. Since 7 PM last night, they have redeemed 1,270,507 EIGEN ($5.02 million) from the EigenLayer staking contract and are now selling them on-chain for ETH or USDC. A few days ago, when EIGEN reached a high of $5.6, their 9.17 million EIGEN had an unrealized profit of $17.65 million, but now it has fallen back to around the cost line.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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