PANews December 22 news, on-chain analyst Yu Jin monitored that in October, 32.45 million USDC was spent through 21 addresses to purchase 8.917 million EIGEN at an average price of 3.64 USD by whales/institutions. Since last night, they have started to redeem EIGEN and sell it on-chain.
Since 7 PM last night, they have redeemed 1,270,507 EIGEN (5.02 million USD) from the EigenLayer staking contract using 4 addresses and are currently selling it on-chain in exchange for ETH or USDC. The 4 addresses have already redeemed EIGEN and transferred it for sale. A few days ago, when EIGEN peaked at 5.6 USD, they had an unrealized profit of 17.65 million USD from the 8.917 million EIGEN. However, it has now dropped back to around the cost line.
