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- Winslow Strong sells entire EIGEN holdings, sparking speculation about his motivations and potential impact on the project.
- Zircuit’s fairdrop rewards EIGEN holders, boosting community engagement and strengthening the ecosystem.
According to Spot On Chain data, Winslow Strong, Director of the Qualia Research Institute, has sold all of his 704,902 EIGEN tokens, worth $2.23 million, via AmberGroup and CowSwap. This big action has generated rumors about Strong’s intentions and potential influence on EIGEN’s pricing.
He also sold less of two other restaking coins, SWELL and ETHFI, which fuels more questions about his choice to leave these positions.
Winslow Strong (@winslow_strong), director of Qualia Research Institute, sold all 704,902 $EIGEN ($2.23M) via #AmberGroup and #CowSwap 10 hours ago.
He claimed most of these tokens from @EigenLayer on its Oct 1 launch. He also sold small amounts of two other #Restaking tokens,… pic.twitter.com/geVbDfwc4e
— Spot On Chain (@spotonchain) November 8, 2024
Meanwhile, as of writing, EIGEN is swapped hands at about $3.20, a slight increase from the previous close of 0.03896%. Over the last 24 hours, EIGEN has gained a rather remarkable 4.00%.
The low touched $2.95, demonstrating continuous changes in value among market interest, and the token’s intraday high reached $3.31. The transaction has not slowed down more general market activity, and several bigger players are still exhibiting hope in EIGEN’s possibilities.
Zircuit Fairdrop and Whale Staking Reinforce EIGEN Community and Investor Confidence
In line with this sentiment, as we previously noted, Layer 2 project Zircuit had a “fairdrop,” or token distribution event, meant to honor EIGEN token holders and stakers with ZRC tokens.
By providing real rewards to committed members, this project aims to increase community involvement and improve the Zircuit environment. Reflecting a continuous attempt to establish and confirm a dedicated user base for Zircuit and EIGEN, the fairdrop distribution has encouraged more involvement.
Beside that, a whale lately staked 1.63 million EIGEN tokens, valued roughly $5.47 million, on October 18. Although at that time the project was losing around $560,000, this action shows the ongoing faith and dedication of important investors in the project.
The whale’s choice to keep staking such a significant sum emphasizes a long-term view and implies that even with transient volatility, EIGEN’s future value is highly expected.
Also, as we previously highlighted, on October 11, 2024, for both spot trading and its Trading Bot operations, Binance also added three pairings: EIGEN/TRY, PEPE/FDUSD, and SUI/FDUSD.