Eigen Whale Bags $9M Tokens From Binance, EigenLayer To Rally?
Highlights
- An Eigen whale has recently accumulated $9 million in EigenLayer tokens recently.
- Despite the hefty transfer, Eigen price has slipped nearly 1% today.
- Tron founder Justin Sun has dumped around 322K Eigen tokens recently to HTX.
An Eigen whale has caught the eyes of the market participants with his move, accumulating 2 million EigenLayer recently. According to the latest data, the whale made the transfer, worth over $9 million, from one of the leading crypto exchanges, Binance. However, despite the recent buying, the Eigen price has dropped today, fueling further discussions in the crypto market.
Eigen Whale Bags $9M Tokens From Binance
In a recent X post, the leading on-chain analytics firm Lookonchain has highlighted the transaction. According to the report, Eigen Whale has transferred 2 million EigenLayer tokens, valued at around $9.06 million, from the top crypto exchange, Binance, over the last two days. Notably, the latest purchase of the whale was 1.6 million EIGEN from the exchange, worth around $7.25 million.
This massive buying indicates that the trader remains confident about the asset’s long-term potential. However, despite this hefty transfer, the EigenLayer price has noted a retreat today, sparking discussions in the broader crypto market.
Meanwhile, it appears that the recent move by Tron founder Justin Sun has caused panic among some traders. For context, Sun has recently dumped 322,119 EIGEN, worth around $1.44 million, to HTX, sparking market concerns. Besides, he also dumped other tokens like ETHFI, ETH, into the same exchange recently.
Will EIGEN Price Rally?
Eigen price today was down around 1% and exchanged hands at $4.44. However, its one-day trading volume jumped 35% to $280 million. Notably, the crypto has touched a 24-hour high of $4.97 and a low of $4.38, while hitting its all-time high of $5.06 on December 7. CoinGlass data showed that EigenLayer Futures Open Interest also noted a slump of 0.2% to $116.9 million, indicating that the investors are taking a pause after the massive rally.
Notably, the market appears to have remained optimistic on the asset. For context, Binance added Eigen to its loanable assets and VIP loans earlier this year, showcasing the exchange’s confidence in the coin.
Meanwhile, the whales are also appearing to be shifting their focus towards the crypto, which could support a further rally ahead. For context, a recent report showed that a Pepe Coin whale shifted its focus towards EIGEN last month, selling 130 billion PEPE.
- Trump Insider Whale Reloads $430M Long on BTC, ETH Ahead of Tomorrow’s Fed Rate Cut Decision
- Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026
- Trump Media Launches Polymarket Rival, Eyes $9B Prediction Market with Crypto.com
- Bitget Lists Common Token, Launchpool Offers 36M COMMON in Rewards
- Coinbase Prime Taps Figment to Boost Institutional Staking on Solana, Cardano, and Sui
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
- HBAR Price Poised to Hit $0.30 as Canary Capital ETF Starts Trading.
- Will Solana Price Rally to $300 as Bitwise Launches $BSOL ETF?
- XRP Price Chart Patterns Hint at 2017-Style Breakout as Evernorth Acquires $1B XRP Ahead of Nasdaq Debut
- Cardano Price Eyes 80% Rally as x402 Upgrade Sparks Hope for AI Payment Expansion
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
MEXC