Whale 0x267 Expands EIGEN Holdings With $3.79M Purchase, Totaling $11.14M

A prominent crypto whale, identified as wallet 0x267, has further cemented its position in EIGEN by acquiring 1.694 million tokens for 1,236.21 WETH ($3.79 million) in the past 12 hours.

This brings the whale’s total investment in EIGEN over the last eight days to 4.483 million tokens, purchased for 3,391 WETH ($10.44 million) at an average price of $2.329.

The whale’s activity extends beyond these recent acquisitions. Previously, it received 327,000 EIGEN from EigenLayer and acquired an additional 230,000 tokens via a Uniswap liquidity pool.

Currently, the whale holds a staggering 5.04 million EIGEN, valued at approximately $11.14 million. This makes EIGEN the second-largest asset in its $200 million portfolio, trailing only Ethereum (ETH).

 Allocation Breakdown 

The whale has strategically distributed its EIGEN holdings across multiple platforms to maximize staking rewards:

– 1.918M EIGEN ($4.24M) remains in the wallet.

– 1.595M EIGEN ($3.52M) is staked with Ether.fi.

– 1M EIGEN ($2.21M) is staked on EigenLayer.

– 528,013 EIGEN ($1.17M) is staked with Renzo.

A giant whale with $200M in assets has spent 3,391 $ETH ($10.44M) to buy 4.483M $EIGEN over the past 8 days.

The whale now holds 5.04M $EIGEN ($11.14M), making it its second-largest holding after $ETH.

Note that the latest purchase was just an hour ago.

Follow @spotonchain and… pic.twitter.com/fLJCXE1Vkr

— Spot On Chain (@spotonchain) November 21, 2024

Insights

This massive accumulation reflects the whale’s strong conviction in EIGEN, a token likely tied to the EigenLayer ecosystem, which is gaining traction in the decentralized staking space. By diversifying staking across platforms, the whale is not only supporting network decentralization but also optimizing yield.

Such large-scale activity from high-profile investors often signals confidence in a token’s long-term potential, potentially influencing market sentiment and driving interest in EIGEN. With its strategic maneuvers, whale 0x267 has emerged as a key player in the ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: kaedeezign/123RF // Image Effects by Colorcinch