A certain whale/institution has redeemed approximately 1.27 million EIGEN since last night and sold it on the chain

PANews reported on December 22 that according to on-chain analyst Ember Monitoring, whales/institutions spent 32.45 million USDC through 21 addresses in October to purchase 8.917 million EIGEN at an average price of $3.64. Since last night, they have begun to redeem them one after another. EIGEN and sold on-chain.

Since 7 o'clock last night, they have had 4 addresses redeem 1,270,507 EIGEN (USD 5.02 million) from the EigenLayer pledge contract and are selling them on the chain for ETH or USDC. EIGEN has been redeemed and sold to 4 addresses. A few days ago, when EIGEN reached a maximum of $5.6, their 8.917 million EIGEN made a profit of $17.65 million. But now it has fallen back to near the cost line.