According to Odaily Planet Daily, on-chain analyst Ember's monitoring showed that whales/institutions that purchased 8.917 million EIGEN at an average price of $3.64 through 21 addresses in October began to redeem and sell EIGEN.
Since 7:00 ET last night, 4 addresses have redeemed 1,270,507 EIGEN ($5.02 million) from the EigenLayer staking contract and sold them on-chain for ETH or USDC.
When EIGEN rose to a high of US$5.6 a few days ago, these 8.917 million EIGENs made a floating profit of US$17.65 million, but now the price has fallen back to near the cost line.
