ChainCatcher Message, on-chain analyst Yu Jin has detected that a batch of whales or institutions purchased 8.917 million EIGEN through 21 addresses at an average price of 3.64 USD in October, with a total expenditure reaching 32.45 million USD USDC. Recently, these addresses have started to redeem and sell EIGEN one after another. Since 7 PM last night, 4 addresses have redeemed 1,270,507 EIGEN from the EigenLayer staking contract, valued at approximately 5.02 million USD, and have sold it on-chain for ETH or USDC. Previously, the price of EIGEN had risen to 5.6 USD, giving these holders a floating profit of 17.65 million USD, but the current price has fallen back to near the cost line.