The post GCR’s Claimed $1.06 Million EIGEN Token Airdrop: Is a Massive Sell-Off Coming appeared first on Coinpedia Fintech News
In a recent blockchain transaction that caught the attention of the crypto community, GiganticRebirth (GCR), a well-known figure in the digital asset space, claimed an impressive airdrop of 253,946 EIGEN tokens, valued at approximately $1.06 million. Just 40 minutes later, they swiftly transferred the entire sum to Binance. What does this mean for EIGEN? Traders are left wondering if a huge sell-off is imminent!
GCR Claimed $1.6 Million EIGEN Token
The EIGEN token, linked to Ethereum and the innovative restaking idea, is making waves following its recent listing on big exchanges like Binance. This move is expected to push EIGEN’s trading volume and boost price movements. A significant point of interest is the 86 million tokens airdropped to early users.
According to the blockchain analytics platform Lookonchain, GCR strategically utilized seven separate wallets to claim a massive airdrop of 253,946 EIGEN tokens, valued at $1.06 million. Perhaps in a surprise move, GCR deposited the entire amount into Binance just 40 minutes later.
GCR(@GiganticRebirth) claimed an airdrop of 253,946 $EIGEN($1.06M) through 7 wallets and deposited all of it into #Binance 40 minutes ago. #GCRhttps://t.co/A95MqjxUT6 pic.twitter.com/gs9KhMjM5r
— Lookonchain (@lookonchain) October 1, 2024
This swift action has sparked rumors in the crypto community, with many wondering what GCR plans to do next. Will a major sell-off follow?
What’s Next for EIGEN?
Now that GCR has moved all 253,946 EIGEN tokens to Binance, traders are waiting to see what will happen. Some believe GCR could be gearing up for a massive sell-off. Big token holders, especially those who get large airdrops, are often under market scrutiny.
Currently, EIGEN is trading at around $3.83, showing a 3.4% rise in the last 24 hours and a market cap of $715 million. Will this sudden move by GCR affect the token’s price even further? All eyes are on what comes next
