BlockTower, one of the giant investors of the altcoin market, continues to expand its wallet. This time, the company invested in EigenLayer, one of the popular projects of recent months.
BlockTower Capital withdrew another 372,578 EIGEN tokens (about $1.18 million) from FalconX earlier in the day. This transaction adds to the 1.026 million EIGEN tokens (about $3.57 million) acquired from Wintermute and FalconX over the past seven days at an average price of $3,482, according to Spot On Chain.
EIGEN price may experience volatility
EIGEN has become BlockTower Capital’s third-largest asset. Other major assets in the firm’s portfolio include MKR7,663 (approximately $9.27 million, at a loss of $2 million) and MPL213,646 (approximately $4.03 million, at a gain of $1.19 million).
EigenLayer is a protocol that introduces a new cryptoeconomic security model on Ethereum called “restaking.” This model allows Ethereum stakers to reuse their staked ETH or Liquid Staking Tokens (LSTs) to secure additional decentralized applications (DApps) and services within the EigenLayer ecosystem.
Such transactions by crypto investment funds often offer important clues about investment strategies and market sentiment. BlockTower Capital’s EIGEN holding shows its confidence in the asset, while its future performance is also being closely watched by small and large investors.
Stay tuned for new information.
