blockchainreporter.net
Two prominent traders joined Justin Sun in making significant deposits of $EIGEN tokens to Binance, a few hours after EigenLayer lifted the locking period. According to Spot On Chain, these moves highlight growing interest from retail, whales, and institutions in the $EIGEN token. These activities have recently gained attention in the crypto market.
Besides Justin Sun, two more smart traders also deposited 749,960 $EIGEN ($3.11M) to #Binance in the past hour:
— Spot On Chain (@spotonchain) October 1, 2024
1/ @HashKey_Capital deposited 496,013 $EIGEN ($2.05M).
2/ Wallet “0x2fe” (likely the legendary #GCR @GiganticRebirth) deposited 253,947 $EIGEN ($1.06M).
Follow… https://t.co/fMsVUskqMs pic.twitter.com/BCUxxhR779
HashKey, GCR Add Credibility to $EIGEN with $1.06M Deposit
A large deposit in the past 24 hours was made by HashKey Capital, which deposited 496,013 $EIGEN, equivalent to about $2.05 million. This investment shows that HashKey Capital believes that this is the right time for $EIGEN to generate healthy returns in the market.
Further, another wallet, which is 0x2fe, is associated with the popular trader GCR, and this trader also staked 253,947 $EIGEN, equivalent to $1,060,000. This is an advantage to the credibility of the token since GCR is famous for their smart trading in the world of crypto.
However, these twodeposits are not much significant when compared to the deposit made by Justin Sun (worth $21 million). Remember that Justin Sun was the first one to deposit large amount of $EIGEN to a centralized exchange most probably with the intention of selling. As the bull run approaches, he may be looking to finalized his portfolio.
Investor Confidence Grows as $EIGEN Gains Major Support
Total deposits made by these traders come to 749,960 $EIGEN or approximately $ 3.11 million. Such a boost in activity is also attracting the attention of the crypto community, which also suggests that investors are expecting good things for the $EIGEN token.
The increase in the interest of $EIGEN can also be attributed to the increase in the interest of the market where traders are in the lookout for new projects. As it is supported by prominent personalities such as Justin Sun, HashKey Capital, and GCR, it might lead to its higher usage and price growth.
As more traders follow the progress of $EIGEN closely, the market will be eager to see how such large-scale investments affect the token going forward in the following days. Ultimately, the activities recently mentioned in Spot On Chain indicate that investors have a positive attitude towards $EIGEN and the crypto market may include it as one of the leading ones.