The post Some Pepe Whales Selling Eigen at a Loss, Could They Be Switching to New Tokens Like Crypto All-Stars? appeared on BitcoinEthereumNews.com.

One whale investor is offloading their EigenLayer (EIGEN) at a loss. A famous investor who made a fortune by investing in Pepe (PEPE) has decided to sell their EIGEN tokens rather than hold them. And the big question everyone’s asking is: where’s all that money heading next? Whale Dumps EIGEN & Takes $470K Loss According to blockchain tracker Lookonchain, the whale investor dropped 1,360 ETH (around $3.2 million) on 909,000 EIGEN tokens earlier this month. They paid around $3.56 per token. However, the whale has begun selling their holdings already. So far, they’ve offloaded 772,000 EIGEN tokens, taking home 988.5 ETH ($2.3 million) at a lower price of $3.10 per token. That amounts to a loss of around $407,000. The whale is still holding onto nearly 140,000 EIGEN, worth around $449,000, but it seems like they’re ready to cut their losses. This decision has generated a lot of attention. After all, this is the same whale who turned $23 million into $65 million in just a year by trading PEPE, ONDO, and BEAM. Selling EIGEN at a loss signals they might see little potential left in this token. And with EIGEN still trading below its launch price, this whale might be onto something. Why EigenLayer’s Restaking Protocol Has Got the Crypto World Talking EigenLayer has been getting a lot of attention lately – and it’s easy to see why. Think of it like this: imagine using the same dollar to buy coffee and secure a bank loan. That’s basically what EigenLayer does for Ethereum stakers. It lets people who’ve already staked their ETH use that same stake to secure other services and earn extra rewards on top. This clever system is called “restaking,” and it’s got everyone talking. But why is restaking so exciting? One of the main reasons is…

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Filed under: News - @ October 9, 2024 6:20 pm