$30 Million PEPE Whale Couldn't Resist: Selling EIGEN at a Loss
Blockchain analysis platform Lookonchain announced that a whale holding 3.37 trillion PEPE tokens (approximately $31.44 million) lost money on EIGEN sales. The whale investor made losses after purchasing a significant amount of EIGEN tokens at the beginning of October.
According to Lookonchain data, this whale spent a total of 1,360 ETH (approximately $3.24 million) on October 3 and 4 to buy 909 thousand EIGEN tokens. The average price during these purchases was $3.56.
Hundreds of Thousands of Dollars in Loss
However, shortly after, this investor sold 772 thousand EIGEN tokens for 988.5 ETH, at an average of $3.1 per token, earning approximately $2.39 million.
After this sale, the whale still has 139.8 thousand EIGEN tokens in its possession, and the current value of these assets is calculated as approximately $449 thousand. The investor has lost a total of $407 thousand from EIGEN purchases and sales.
EigenLayer stands out as a protocol built on Ethereum that offers a new cryptoeconomic security model called “restaking”. Thanks to this new approach, users are offered the opportunity to make additional profits by using their assets on Ethereum (ETH) more efficiently.
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