Wu said that according to @EmberCN monitoring, whales/institutions that spent $32.45 million USDC to purchase 8.917 million EIGEN at an average price of $3.64 through 21 addresses in October have begun to redeem EIGEN and sell them on the chain since last night. Since 7 o'clock last night, they have had 4 addresses redeem 1,270,507 EIGEN (5.02 million US dollars) from the EigenLayer staking contract and are selling them on the chain for ETH or USDC. When EIGEN rose to $5.6 a few days ago, they made a floating profit of $17.65 million on these 8.917 million EIGEN, but now it has fallen back to near the cost line.