Scopescan has provided intriguing insights into recent movements within the EIGEN market. A notable whale conducted a significant transaction, offloading its EIGEN holdings at an average price of $3.2 per token, despite having initially acquired these tokens for an average cost of $3.5. This strategic decision underscores the volatility and dynamic nature of the cryptocurrency market.
Additionally, Scopescan has revealed that an impressive $31 million worth of EIGEN tokens is poised to be unlocked in the upcoming two days. The unlocking mechanism is a crucial aspect of the Eigenlayer protocol. In this regard, Eigenlayer plans to release approximately 9.93 million tokens on October 9, at precisely 3:00 AM UTC+8.
This release will account for about 5.32% of the total circulating supply, potentially impacting market liquidity and the price dynamics of EIGEN tokens going forward. Investors and stakeholders should closely monitor these developments, as they may serve as pivotal moments for trading strategies and overall market sentiment regarding EIGEN..