Justin Sun’s team dumped 5.37 million EIGEN tokens for $21.66 million USDT merely twenty-four hours after it was launched.
These tokens, which Sun received in an airdrop, were sold at an average price of $4.03 each, according to on-chain data.
This transaction happened immediately after the tokens were transferred to Binance from HTX, where they had initially been deposited following the airdrop.
Sun reportedly didn’t waste time. The EIGEN airdrop hit his wallet the night before and by noon the next day, his team had already moved the tokens.
EmberCN, a crypto researcher, originally shared these details in a tweet that has now been deleted. Meanwhile, HTX denies any link between the wallet involved and Justin Sun.
They also said that they don’t comment on the transactions of individual wallets.
EIGEN’s first day in the market
EIGEN’s entry into the crypto market yesterday made noise, starting with a trading price of $3.90. Within hours, it surged to a peak of $4.53.
But by the end of the day, the price had cooled down to $3.99, a modest gain of 7.4% from its launch price.
EIGEN achieved a market capitalization of $742 million at its peak, while its fully diluted valuation (FDV) hit $6.69 billion.
The token wasn’t short on exposure either. Top exchanges like Binance, Kraken, Bybit, OKX, and Uniswap v3 had EIGEN listed, offering plenty of liquidity.
Whale activity was hot. One whale bought 383,672 EIGEN tokens, shelling out $1.55 million at a price of $4.05 per token. Another scooped up 318,651 tokens for about $1.31 million at $4.10 a pop.
EIGEN is the native token of EigenLayer, a protocol that operates on the Ethereum blockchain.
It allows users to restake their already staked ETH or liquid staking derivatives, offering a way to provide security to decentralized applications (dApps) without the need to unstake assets.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed