A certain whale/institution redeemed approximately 1.27 million EIGEN from the EigenLayer pledge contract since 7 o'clock last night and sold it on-chain
According to on-chain analyst Yu Jing's monitoring, in October, whales/institutions purchased 8.917 million EIGEN through 21 addresses at an average price of $3.64 per unit, spending a total of $32.45 million USDC. Since last night, they have started to gradually redeem EIGEN and sell it on the chain.
Since 7 o'clock last night, four addresses have redeemed 1,270,507 EIGEN (worth $5.02 million) from EigenLayer's staking contract and are currently selling them on the chain for ETH or USDC. A few days ago when EIGEN peaked at $5.6 per unit, their holdings of 8.917 million EIGEN had made a floating profit of $17.65 million; however now it has fallen back near the cost line.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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